The weald-based UK Oil & Gas plc (UKOG) is promoting prospects of oil production in south east Turkey as it seeks three more exploration licences in the region.
In a statement this morning, UKOG said it had applied with its Turkish partner, Aladdin Middle East Ltd (AME), for four blocks, together measuring 612km2.
An online presentation, also published today, suggested that this part of Turkey had higher volumes of oil than the weald basin, where the company has all its UK assets.
The Turkish blocks are south and east of UKOG’s current interest in the Basur-Resan licence, held 50-50 with AME since July 2020.
UKOG said the new area straddles undrilled surface anticlines that have previously been only “scantily explored”. Geologically, they were said to be similar to the UKOG/AME Basur-Resan oil appraisal project, AME’s producing East Sadak oil field and oil fields in the Kurdistan region of Iraq.
The presentation put total proven oil volumes in south east Turkey at 572 million barrels (MMbbl), 13 times that of the weald Basin (44 MMbbl). (In 2015, UKOG’s chief executive, Stephen Sanderson, predicted the weald had “between 50 and 100 billion barrels of oil in place”, with 5-15% recoverable.)
UKOG’s proposed Loxley gas site at Dunsfold in Surrey, turned down for planning permission last month, had 7.1 million barrels of oil equivalent (MMboe), the presentation said. This compared with 37 MMbbl in the Basur-Resan licence and 28 MMbbl in East Sadak.
The UKOG proposed site at Arreton on the Isle of Wight, still awaiting a planning decision, was said to have 2.6 MMbbl. The presentation gave no figures for UKOG’s production site at Horse Hill in Surrey.
The result of the application is expected in 60 days, UKOG said. It said there were three other applications for the licences, including one from TPAO, the Turkish state oil and gas company.