Waving the flag: at Turkey's Edirne licence
Edirne appraisal confirms promise
Australia’s Otto Energy said the Ikihoyuk-2 appraisal well on the Edirne licence in western Turkey had struck 27 metres of net gas pay in two intervals.
The well is being sunk about 620 metres west of the Ikihoyuk-1 discovery well. The pay was struck between depths of 395 and 482 metres in the well, which was sunk to total depth of 500 metres, Otto said.
The company said the well would not be tested at this stage, but was being completed for production.
The Ikihoyuk-1 well struck gas in several zones in April last year and is so far the largest discovery at Edirne.
Otto said the well represented the best prospect for early development by the fourth quarter of this year.
Otto chief executive Alex Parks said: “The Ikihoyuk-2 appraisal well results confirm that this is the largest accumulation discovered so far, as it is slightly deeper and has multiple pay zones. Given the relatively low cost for development and the high gas price in Turkey, the Ikihoyuk structure has been earmarked for early development."
He said the find was one of six discoveries at Edirne from 17 structures mapped in 3D seismic data shot in 2007.
Otto holds a 35% stake in the permit, which is operated jointly by Incremental Petroleum, with 55%, and Petraco, with 10%.