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West Thrace & Banarli Licences
Valeura Energy Inc. is offering a select group of companies the opportunity to acquire interest in the deep rights of the Banarli (Deep) and West Thrace (Deep) Exploration Licences and Production Leases, located in the proven gas-bearing Thrace Basin, onshore Turkey.
- Attractive, high realised natural gas price of more than USD 13/Mscf;
- Proximal gas infrastructure feeding a strong and growing domestic gas market. Turkish gas demand is currently 4.4 Bcf/d with very strong year-on-year growth (7.4% CAGR from 2000 to 2020), of which 99% is imported;
- Excellent position to capture both European and domestic gas markets via TANAP-TAP (Italy) & Turkstream-2 (Bulgaria) and BOTAS-operated national Turkish grid;
- Assistance in achieving Turkey’s net zero goals by 2053, as set out in recently ratified Paris Agreement. Development of Valeura’s deep gas acreage would significantly reduce the Turkish Government’s reliance on coal and imported energy for power generation;
- Drilling to date has demonstrated extensive gas-charged reservoir with a substantial gross rock volume (GRV) of circa 1,700 km3, over 37 Tcf of GIIP and total recoverable gas resources of 20 Tcf (gross);
- Well testing to date has indicated that gas production rates from single zones completed in vertical appraisal wells would be commercially attractive when completed in horizontal laterals;
- Drill-ready Hanoglu-1 appraisal well aiming to unlock 2.8 Tcf of gross recoverable gas resources within the 221 km2sweetspot area of the pervasive, gas charged Upper Kesan reservoir;
- Favourable fiscal terms (12.5% Royalty & 22% tax) and supportive government.