US-based Toreador Resource Corporation has identified at least six gas prospects with per-prospect reserve potential ranging from 200 billion cubic feet to one trillion cubic feet in the shallow-water western Black Sea, Turkey.
The analysis is the result of a 2D seismic survey completed on four contiguous permits in 2002. The company anticipates selecting two well locations, with drilling targeted to begin by early 2004.
Toreador is operator and holds a 49 percent working interest in eight Black Sea permits. The Turkish national oil company, TPAO, holds the remaining interest. In 2003 Toreador plans to complete the Barbaros-1 well on a promising prospect in the proven Thrace Basin gas play in northwest Turkey about 75 miles west of Istanbul. Based on well-log evaluation, Toreador estimates the Barbaros-1 could produce at an initial rate of two million cubic feet of gas per day.
In addition, Toreador plans to drill three Thrace Basin exploration wells on the Gallipoli peninsula, 40 miles southwest of Barbaros-1, to follow up on gas shows encountered by other operators. The wells would be shallow and require minimal investment. Toreador holds working interests in six Thrace Basin licenses ranging from 25-100 percent and operates four of them.
In the Cendere Field in south central Turkey, Toreador's solid development project continues. It is anticipated that a 3D seismic survey of the field in mid-2003 should delineate the northeastern portion and help the company identify additional drilling locations on the structure. The Cendere Field, in which Toreador holds a 19.6 percent working interest, is operated by TPAO and producing at a gross rate of 2,100 barrels of oil per day (bpd).
Toreador Resources Corporation is an independent international energy company engaged in the acquisition, development, exploration and production of natural gas, crude oil and other income-producing minerals. The company holds interests in developed and undeveloped oil and gas properties in France, Romania, Turkey and Trinidad, West Indies. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
