BRAZILIAN state operator Petrobras expects to spend about $300million on exploring its Turkish Black Sea concessions over the next two years, according to the company’s international director, Jorge Zelada.
Turkyye Petrollery Anonym Ortaklidi (TPAO), the Turkish national oil company, awarded Petrobras the two deepwater Black Sea blocks 3920 (Kirklarelli) and 3922 (Sinop) in 2006.
The blocks are held by the two companies on a 50:50 basis, with Petrobras designated as operator.
The two blocks have been evaluated and are said to hold very interesting geological structures that appear to contain hydrocarbons.
They are in relatively deep water, which means Petrobras will feel at home.
Kirklarelli – in the western sector of the Turkish Black Sea aquatory – lies in about 1,200m of water, while Sinop, in the eastern part, lies in about 2,000m.
Petrobras had originally planned exploration of the two blocks in 2011, but rescheduled the venture to Q4 this year, with two wells planned.
They will be drilled using the fifth-generation semi-submersible rig, Leiv Eiriksson, which is currently on charter to Shell and working in north-west European waters.
Up to seven wells could be drilled in the Black Sea campaign, and TPAO reckons the region harbours up to 10billion barrels of oil and 52.97trillion cu ft of gas.