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Major Investment Projects

THE SAKARYA AND ZONGULDAK FIELDS

OPERATOR/INITIATOR
Turkiye Petrolleri Anonim Ortakligi (TPAO)
LOCATION
Black Sea, Turkey
STAGE

DATES

INVESTMENT AMOUNT

$10 bn (total) turkish government intends to invest $10 bn in development of gas fields in the black sea. as suggested, some 14bn cm of gas per annum could be produced from the field located in zonguldak province and from the sakarya gas field. the project will provide over 1000 job opportunities.

MERCURY PETROCHEMICAL COMPLEX

OPERATOR/INITIATOR
SOCAR Turkey
LOCATION
Aliağa, Turkey
STAGE
Pre-FID
DATES

INVESTMENT AMOUNT
$1.8 bn socar (state-owned, azerbaijan) plans in 2022 to adopt final investment decision on the project for construction of a petrochemical complex named mercury in turkey. the mercury project will be the second investment of socar in the petrochemical sector of turkey right after the purchase of the petrochemical complex petkim. to date, the company is considering 2 options for project development: through attracting a petrochemicals-experienced partner or a financial partner. the project implies construction of the petrochemical complex close to aliaga. the expected capacity is 1,25 million tonnes of refined terephthalate acid (pta) per annum, 840,000 tonnes of paraxylene (px) and 340,000 tonnes of benzol. the mercury complex will be built close to the petkim petrochemical complex and star refinery. project cost is estimated at $1.8 bn. the share of project members is 50/50. as expected, the construction of this new petrochemical complex will allow to annually cover the turkish deficit of the current account by $6 bn.

GAS FIELDS IN THE BLACK SEA TO BE DEVELOPED WITH THREE TURKISH VESSELS

OPERATOR/INITIATOR
Turkiye Petrolleri Anonim Ortakligi (TPAO)
LOCATION
Black Sea, Turkey
DATES
By 2023

turkey keeps developing gas fields on the black sea shelf. the country plans to start production of the black sea gas by 2023. the associated works will involve three turkish drilling vessels – yavuz, kanuni and fatih. the vessels will address various tasks at the sakarya gas field. once fatih completes its drilling mission, wells development will start by kanuni and yavuz. the process is divided in 2 parts: development of wells of lower and upper level. kanuni will be responsible for development of the lower level.

TURKEY GAS STORAGE EXPANSION PROJECT

OPERATOR/INITIATOR
BOTAŞ и Asian Infrastructure Investment
Bank
LOCATION
Black Sea, Turkey
DATES
June 19, 2017 – October 31, 2023
INVESTMENT AMOUNT
$2.735 m

the objective of the project is to increase the reliability and security of gas supply by expanding underground gas storage capacity. the project is expected to expand the capacity of the tuz golu gas storage facility by 4.2 billion cubic meters (bcm), from 1.2 bcm to 5.4 bcm, through constructing 40 caverns in the tuz golu underground salt formation, related surface and subsurface facilities, fresh water and brine discharge pipelines, and electricity supply.

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