Based in: Turkey
Türkiye Petrolleri Anonim Ortaklığı (TPAO) (Turkish Petroleum Corporation) was founded in 1954 with the responsibility of being involved in hydrocarbon exploration, drilling, production, refinery and marketing activities as Turkey's national company.
Until 1983, as an integrated oil company, it was engaged in all the activity fields of oil industry from exploration to production, refinery, marketing and transportation.
Today, TPAO is a national oil company involved in merely upstream (exploration, drilling, well completion and production) sector.
From the company's website:
Badra Oil Field Development Project
Since 18 February 2010, the consortium of Gazprom (Operator 40%=, Kogas (20%), Petroneas (20%) and TP (10%) has continued its activities.
As commercial production started in project, it is estimated the total income should be 25 million with an average of 60$/b.
Budget realization is about 50% since 2010. It is estimated that extra 50 million USD will be required in 2015 for the project.
It is expected that the investment and expenses of TP will be met by the production in 2016 and the remaining 19.8 million USD to be transferred as The Refunding of the Investments made in earlier years.
Since the commercial production started, a total of 1,958,810 barrels have been produced, which is nearly 14,618 b/d. TP Badra Ltd. share is 127,724 barrel in total and 953 b/d.
Mansuriya Gas Field Development Project
After winning the third gas tender, the consortium of TP (operator 50%), KEC (30%) and KOGAS (20%) continue its activities. The agreement signed on 5 June 2011 came into effect on 18 July 2011.
In the context of the project, reservoir modelling studies were held in the light of 3D seismic data and well data. Updates will go on by acquiring new data.
Even if it was went to tender for twice, the bids in both tenders were higher than the budget. For this reason the tender had to be canceled and with the approval of Iraqi administration, the project development scenario was changed. The studies were being carried out in this context.
The operations were suspended because of the security reasons and ISIS danger. In the context of working schedule, drilling equipment purchase, whose supply takes a long time, initiated. The drilling equipment was ordered for the drillings, which are planned to be realized at the earliest. Moreover the necessary equipment supply initiated for the rehabilitation of 3 current well. After ensuring the safety in region, new drilling and rehabilitation will start.
Siba Gas Field Development Project
After the third license tender, Iraq Siba Gas Field was won. According to the agreement, KEC is operator with 60% share whereas TP has 40% share. Siba Gas Field Development and Production Service Agreement signed on 5 June 2011, came into effect on 1 July 2011.
Project duration is 20+5 years following the effective date. It is planned that after the commencement of early production facilities, a minimum of 25 million scf/d production is to be initiated in 2015 and in 2017 it is aimed to reach to plateau production of 100 million scf/d. Yet, it is foreseen that project targets will be reached one year late as surface facilities tender was not resulted in 2014.
3D seismic process activities were complete 99% in 2014 and interpretation studies continue. Drilling of Siba-4 Well is completed, workover and test studies started. Equipment supply for gas process facilities and pipeline construction are going on.
Surface facility construction tender was completed. In 2015 plan, there are 3D seismic interpretation studies, 3 production well drillings, design and programme preparation for 1 exploration well, supply of equipment. Detailed engineering, manufacturing, construction and montage of surface facilities will go on.
Missan Oil Field Development Project
TP became partner with CNOOC Chinese company by bidding in first tender for Iraq Missan Development-Production Project on 17 May 2010. According to the agreement, CNOOC is the operator with 85% investment share whereas TP has 15% share in investment. For the income share, CNOOC has 63,75%, TP has 11,25% and OEC has 25% share.
Missan Field Development - Production Agreement was signed on 17 May 2010. The effective date of the project is 20 December 2010. Daily production was designated as 88.000/d. This production is required to be increased to 450.000/d in 2016 as mentioned in contract. Necessary engineering, drilling and field activities continue.
Even if the process is not as it was planned because of tender duration and competent authority approval, 13 well drilling was completed and taken into production. Thus, since the effective date of the project 44 drillings have been completed and 41 workover of these well are realized and taken into production. In addition to this, 53 workover and rehabilitation in current wells were realized in 2014. This number is 134 since the effective date.
Seismic data acquisition and process of it were completed, interpretation studies are going on. Rehabilitation of current oil processing plant started and new oil, gas and water process plant construction was initiated.
Moreover, as the current oil pipeline will not be sufficient for the increase in production, a new oil pipeline construction started and completed in 2014. 2014 production of the project is 41,474,502 and TP share is 1,342,329 barrels.
A full list of International Oil Companies (IOCs) operating in Iraq under licences granted by the Ministry of Oil in Baghdad can be found here.