TURKISH PETROLEUM CORPORATION - TPAO

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In 2011, C2A-147/3 was drilled and the well was released on February 2011. The other planned drilling and operations could not be performed and suspended temporarily due to the events started in February 2011 in Libya. The TPOC Branch Office was kept open during the events in Libya and full working of the office started November 2011. In 2012, new exploration and appraisal wells will be drilled depending on the results of the 2D and 3D seismic surveys, data acquisition and interpretation studies. Additionally, completion works and well tests will be realized in the discovery wells. Iraq Since 1994, Turkish Petroleum has been working closely with the Iraqi Ministry of Oil for exploration, development and production opportunities in Iraq. Turkish Petroleum was awarded for Badra and Missan development fields in first and second Petroleum Licensing Rounds organized by the Iraqi petroleum authority PCLD (Petroleum Contracts and Licensing Directorate) in 2009. Turkish Petroleum has offered three bids for the Iraq’s third Petroleum Licensing round and has been awarded 20 year term gas development contracts for Siba as a partner and Mansuriya gas field as an operator in Iraq’s third bidding round in 2010. Kuwait Energy will be the operator of Siba field, participating with a 60% contractor share and Turkish Petroleum participating with 40%. We will be the operator of Mansuriya field, participating with a 50% contractor share, Kuwait Energy 30% and KOGAS 20%. The development activities will be commenced on July 18, 2011 with the official effective date. New Ventures Within the scope of business development projects, new activities are going to be conducted especially in South America, Russia, Middle East regions in addition to the current investments. The physical and cash budget planned for the new ventures is 20 million USD.
tpic, a turkish petroleum subsidiary TPIC was established in 1988 in Channel Islands, Jersey, United Kingdom to operate in all branches of oil industry comprising exploration, drilling, field development, production, transportation, refining, crude oil and oil products trade and marketing. Exploration and Production Activities TPIC focuses its exploration and production activities in Colombia and Turkey, while it continues its business development activities in Middle East, Central Asia and Latin America. In Turkey; TPIC has 37 exploration licenses. Drilling activities in 5 wells were conducted in 2011 and 4 of these wells’ drillings were completed. In Colombia; since 2008 TPIC, with its partner Ecopetrol, has been conducting its activities in the project with 50% share as operator. Since 2008, TPIC has conducted joint exploration activities with its partner Ecopetrol; National Oil Company of Colombia, in Gonzalez Block in Catatumbo Basin. TPIC serves as the Operator of
Page 1 and 2: TURKISH PETROLEUM CORPORATION 3
Page 3 and 4: about us 2 who we are? what we do?
Page 5 and 6: headlines from 2011 4 7 oil field a
Page 7 and 8: note from the president 6 Companies
Page 10 and 11: Our aim is to add a meaning to our
Page 12 and 13: Black Sea floor have attracted the
Page 14 and 15: in Akçakoca fields as well as Ayaz
Page 16 and 17: By the end of 2011, yearly crude oi
Page 20 and 21: the block where each partner has 50
Page 22 and 23: Interpretation Systems For geophysi
Page 24 and 25: Roughneck. For casings, we made an

TURKISH PETROLEUM CORPORATION - TPAO

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