TURKISH PETROLEUM CORPORATION - TPAO

the block where each partner has 50%
participating interest in the project. The first
exploration well, Rio Zulia West-3 (RZW-
3) was completed with oil discovery. The
second exploration well, Rio Zulia West-
4 (RZW-4) was completed in June 2011
with oil shows. In October 2011, Ecopetrol
decided to assign its shares to TPIC. The
process is still in progress.
TPIC holds 51% of the shares as well as
serving as the operator whereas Genel
Enerji holds 40% and Multiservicios RJT
LTDA holds 9% of the shares. An exploration
well is planned to be spudded in the last
quarter of 2012.
Oil Field Services
In 2011, TPIC enhanced oil field and
geothermal services by increasing the
number of crews both in Turkey and abroad.
TPIC drilled over 150,000 m in depth in 86
wells (5 wells abroad) and completed 439
wells (34 wells abroad) so far.
In Turkey, TPIC continues its drilling
and well completion services for Turkish
Petroleum, Soyak/Mis Enerji, Sanko/Santral
Enerji, Aytemiz Elektrik, BM İnşaat, Akça/
Menderes Enerji, Güriş/Gürmat Elektrik,
Zorlu Enerji and Kayen Enerji.
In Iraq, TPIC participated in the tender
opened by SOC (South Oil Company) for
drilling and completion of 45 wells and was
awarded the project in 2010. The drilling
operations of 5 wells started in January
2011 and completed in 2011 by TPIC.
In Kazakhstan, TPIC Aktobe Branch Office,
founded in 1999, successfully conducted
projects. Within the scope of Kazakhstan
activities, drilling services have been
provided for KazakhTurkMunai (KTM)
Company since 2008. The project was
completed in 2011 with the completion of
the 5 th well in March 2011.
Oil Products Trade
Since 1999, TPIC has continued to increase
the volume of its oil and oil products trade with
its strong logistics system and operational
capability. TPIC continues carrying out oil
products trade in abroad, and extended its
operations to Iran, Turkmenistan, Syria,
Libya, Northern Cyprus and Mediterranean
in addition to Iraq. TPIC handled more than
10 million tons of oil and products in the
mentioned markets.
TP Petroleum Distribution Inc.
TP Petroleum Distribution Inc. (TP) was
founded in February 2006 as a subsidiary
of TPIC. TP, with the target of reaching
a 10% share in the Turkish Market by
2020, continued its gas stations network
development activities in 2011. As well
as establishing trustable and principled
working relations, TP ensured government
reliability to its dealers.
By the end of 2011, TP achieved a number
of 132 dealers. It has protected its position
in EMRA reports as 8 th biggest distributor.
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