Turkey sees huge potential in fracking

Special to WorldTribune.com

ANKARA — Turkey has determined a shale gas potential that could put a dent in its foreign energy dependency.

An exploratory rig near the southeastern city of Diyarbakır, where Shell and Turkey’s state oil firm are looking for deposits of shale oil.  /İha/İhsan Yılmaz

An exploratory rig near the southeastern city of Diyarbakır, where Turkey’s state oil firm is looking for deposits of shale oil. /İha/İhsan Yılmaz

The government of Prime Minister Recep Erdogan has awarded a license of a potential shale reserve to Canada’s Valeura Energy.

The General Directorate of Petroleum Affairs said Valeura would hold a 100 percent working interest in the Banarli License 5104, which encompasses 118,598 acres.

The award stipulated a four-year agreement at Banarli, in which two
wells have been drilled.

Officials said Valeura was committed to spudding one well in the first year as well as conduct seismic tests.

Valeura has assessed that several formations in Banarli could contain
natural gas. The company said the shale gas might be located at a depth
beyond three kilometers.

Source Article from http://www.worldtribune.com/2013/04/11/turkey-sees-huge-potential-in-fracking/

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