Thrace basin tight gas unconventional play Report

Asset Report 13 February 2020

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Report summary

Due to growing domestic energy demand, Turkey's government is forecasting import expenditure to reach US$600 billion by 2023. The Turkish government is determined to increase domestic gas production and reduce the country’s significant reliance on energy imports. Unconventional gas is being emphasised as one way to achieve this goal, and Turkey's Thrace basin is the number one target. Located in northwest Turkey, the basin houses a large number of conventional gas fields but is also prospective for tight gas. Valeura Energy and Equinor lead the way in exploration and appraisal of the tight gas play, largely driven by the country's premium domestic gas price.

Commercialisation overview
What to watch
- Valeura Energy
- Equinor
- 2017 farm-in
- Intention to exit
- Türkiye Petrolleri Anonim Ortakligi (TPAO)
- Other IOCs
- Pinnacle Turkey
- TransAtlantic Petroleum
- Location
- Key formations
- Markets
- Domestic infrastructure
Key legislation
- Petroleum Law
- Natural Gas Market Law
- Environmental regulations
- Land access/permitting
Fiscal terms
- Key terms
Supply chain
Water procurement/disposal
Key points and assumptions