5 - TPAO

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28 ACG Project has been developed in phases. The production has started from Chirag Field (the early oil project) in November 1997. The Phase-1 (Development of the Central Azeri Field) was put into production in 2005. The productions of the Phase-2 (Development of the West and East Azeri Fields) were commenced in 2006 and the production of Phase-3 (Development of Deep Water Guneshli Field) was started up in 2008. Chirag Oil Project (COP) which aims to produce oil from undepleted area between the existing platforms in Chirag and Deep Water Guneshli is on the execution phase and it is expected to be online at the end of 2013. Shah Deniz Project The project has been signed in 1997 and after the completion of the Minimum Obligatory Work Program of the Exploration and the Extended Exploration Periods in 2001, commerciality of natural gas and condensate has been declared. The Shah Deniz Structure is located in the offshore South Caspian Sea, 70 km southeast of Baku and 70 km southwest of the Azeri- Chirag-Guneshli Field. The concession has area coverage of approximately 860 km² with water depth varying between 150 and 600 m. According to the Sales and Purchasing Agreements (SPA), within the scope of Phase-1 in the project which had 625 billion m³ natural gas and 750 million barrel condensate reserves, the produced gas has been exported to Turkey, Azerbaijan and Georgia. With the Shah Deniz Phase-1 Field Development and Construction Decision, the production has started on December 2006 while the commercial production started in April 2007. The expected annual plateau production in Phase-1 is specified as 8.6 billion m³ and 6.6 m³ of this amount is segregated to Turkey for 15-years period. By the end of 2011, the cumulative produced natural gas is 30.7 billion m³ and produced condensate is 63.8 million barrels. For 2011, the amount of them was 6.7 billion m³ and 14 million barrels, respectively. The equity of TPAO through the project is 2.2 billion m³ of natural gas and 4.7 million barrels of condensate. In 2011, these numbers are 467 million m³ for natural gas and 967 thousand barrels for condensate. For Phase-2, it is estimated that construction decision will be taken in 2013 and first gas delivery will be realized in late 2017. Alov Project Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of TPAO joined the Project after signing EDPSA, by an “Agreement on Participating Interest to be Vested” on July 29 th , 1998. As of December 21 st , 2011 TPOC was assigned as the operator of the Alov Exploration Project. Alov Exploration Project covers three different prospective structures named Araz-Alov Sharg in the Middle of the Southern Caspian Sea. The license area is located 500 km south-east of Baku in water depths varying from 400 m to 1000 m. For the Alov Project, the minimum contractual commitments are 1,400 km² 3D seismic surveys and drilling of three exploration wells for the three-year exploration period. The legal status determination of Caspian Sea is waiting for the first exploration well drilling. Pipeline Projects of TPAO Contributing to the Energy Corridor In Turkey, which resides at the intersection of Middle East and Caspian Regions having the major portion of the world oil reserves, the basis of the energy corridor to carry the energy resources to the world market was initiated by the constructions of BTC and SCP Pipeline Projects.
Following the determination of the Black Sea hydrocarbon potential, it will be transport through our country to the markets in safe way on time. 29 In this regard, our Corporate is taking its own part in meeting the natural gas and oil demand of our country and we also continue our activities of increasing our efficiency and control through the east-west energy corridor. A Memorandum of Understanding was signed on 26 December 2011 between Azerbaijan and Turkey for TANAP (Trans Anatolia Pipeline) to transport the Azeri gas through Turkey to Europe. BOTAŞ and TPAO are partners in this project, and after realizing it, it will be the second biggest pipeline project on Anatolia after BTC pipeline. Baku-Tbilisi-Ceyhan Main Export Crude Oil Pipeline (BTC) Project Within the scope of the Project, an approximately 1,768 km long pipeline, with a nominal capacity of 50 million tons/year, starting from Sangachal Terminal close to Baku-Azerbaijan passing by Tbilisi-Georgia and reaching to the Mediterranean Sea at Ceyhan-Turkey, has been constructed and operating since 3 June 2006. By the end of year 2011, 1,345 million barrels of crude oil carried by 1,742 vessels. Currently, transportation of a large portion of ACG oil, all of Shah Deniz condensate and some Kazakh Tengiz and Turkmenian oil is proceeding and 257 million barrels of oil was loaded to 355 tankers from Haydar Aliyev Terminal in 2011. The transportation of oil produced in Caspian Region, especially from ACG Project in Azerbaijan to the world markets, in a safe, secure, reliable and environmentally friendly way is continuing through the BTC Project which is the first step of East-West Energy Corridor. South Caucasus Natural Gas Pipeline (SCP) Project Within the scope of SCP Project, Shah Deniz natural gas is being transported to Georgian- Turkish border. The SCP passing through the same corridor with BTC is about 690 km in length.
Page 3: 1 Natural resources have great impo
Page 6 and 7: contents 4 6 8 10 12 14 16 20 26 32
Page 8 and 9: about us 6 who we are? what we do?
Page 10 and 11: organization chart 8 Chairman and P
Page 12 and 13: message from the president 10 We ar
Page 14 and 15: oard of directors 12 5 He graduated
Page 16 and 17: general management 14 Mehmet UYSAL
Page 18 and 19: indicators of 2011 2011 2010 16 Sal
Page 20: 18 World population spent 28% more
Page 23 and 24: In accordance with our vision and m
Page 25 and 26: • TPAO and Shell signed Joint Ope
Page 27 and 28: 25 Garzan Water Injection Project G
Page 29: We have become an important actor i
Page 33 and 34: The first draft of the Preliminary
Page 35 and 36: Today, oil companies are faced with
Page 37 and 38: Drilling Services While conducting
Page 39 and 40: In this context, a total of 29 proj
Page 41 and 42: technology, by not harming the envi
Page 43 and 44: In this context, TPAO continuously
Page 45 and 46: Batman District Management In Batma
Page 47 and 48: Colombia Activities Gonzalez Block
Page 49 and 50: 47 Turkish Petroleum SCP Ltd. (TPSC
Page 52 and 53: finance 50 600 Our domestic budget
Page 56 and 57: 54 Basis Of Presentation For The Fi
Page 58 and 59: services. The income generated by s
Page 60 and 61: 58 The Group does not have a goodwi
Page 62 and 63: 60 gains and losses in accordance w
Page 64 and 65: 62 increased for the change in thei
Page 66 and 67: TPAO and its Subsidiaries Consolida
Page 68 and 69: TPAO and its Subsidiaries Consolida
Page 70: contact information 68 headquarters

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