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 NEWS

JULY 2016

Drilling and testing operations have been completed in the Chia Surkh-12 well.

Work has commenced on the feasibility and engineering aspects of field development.

 

MAY 2016

Petoil is continuing its exploration activities in Chia Surkh-12 in Kurdistan Region of Iraq.

 

 

JUNE 2015

  • Petoil, pushed the button to search for gas in the state of Texas, US. Carrying out their work with Capital Framework, a US based financial company, Petoil will be the first Turkish company seeking oil in the US. This news appears in both domestic and international press.

     

MARCH 2015

  • Petoil participated in 7th East African Petroleum Congress and Exhibition (EAPCE’15) held in Kigali, Rwanda on 4-6 March 2015 Petoil Exhibition Stand attracted great interest during the three-day event, allowing development of valuable relationships with visitors and furnishing information about company profile and projects. Congress and exhibition also provided an opportunity to gain information and understanding of various African oil and gas projects.

     

FEBRUARY 2014

  • 3D seismic data is being acquired over  an area of 300 km2 including the CS-10/10A and CS-11 wells. The data will be used to refine the structural closure to allow detailed reservoir interpretation and to identify additional potential areas. The survey started in the second half of 2013 and is expected to be completed, processed and interpreted in the coming months. A new well based on the results of the 3D survey is planned to be drilled later in 2014.

NOVEMBER 2013

  • The International Geophysical Congress and Exhibition of Turkey was held in Antalya between 25-27 November, under the sponsorship of Petoil.

     

NOVEMBER 2013

Chia Surkh-11 well was drilled successfully, within the scope of the Chia Surkh Block Production Sharing Contract between Kurdistan Regional Government of Iraq, Petoil and Genel Energy, to 1912,5 meter depth in 2013. The operator of the Block is Genel Energy. Testing of the well has been completed with encouraging results. CS-11 was drilled 85m down-dip and 3km to the northwest of CS-10 and intersected a 170m gross hydrocarbon column in Miocene and Oligocene aged reservoirs.The Miocene Jeribe formation previously tested in CS-10 has flowed at a cumulative rate of 3,550bpd of 50 degree API oil and 21mmscfd of gas per day from two separate zones. The deeper Miocene Dhiban dolomite not penetrated in CS-10 flowed 2,060bpd of 50 degree API oil and 16mmscfd of gas. The Oligocene Euphrates formation not previously penetrated in CS-10 flowed 1,600bpd of 47 degree API oil and 9mmscfd of gas.

MAY 2013

Chia Surkh-10/10A well was drilled successfully, within the scope of the Chia Surkh Block Production Sharing Contract between Kurdistan Regional Government of Iraq, Petoil and Genel Energy, to 1696 meter depth and well testing has been completed within the months of March and April 2013. The operator of the Block is Genel Energy. Drill stem test conducted in a Jeribe Formation interval flowed at up to 11,950 barrels oil and 15 million cubic feet of gas per day. The gravity of the oil was 41o API. A second test carried out over a 12 meter zone in a younger Miocene section flowed at sustained rates of 3200 barrels of oil and 8,4 million cubic feet of gas per day.

September 2012
In the 14th International Energy Arena Conference that took place in Istanbul on 24-25
September 2012, Prof. Dr. Güntekin Köksal, Chairman of Pet Holding and Petoil Inc.
lectured on the Petroleum Apperance of  Turkey and Northern Iraq.

August 2012

The sale of the 23% share of Petoil’s A&T Petroleum Ltd. in the Bina Bawi
Northern Iraq project is finalized on August 1, 2012.

August 2012

2D seismic data acquisiton initiated on August 06, 2012 in Chia Surkh exploration
block in North Iraq, in which Petoil has a 20% interest.