On the occasion of Petoil’s 35th anniversary, Mrs. Ayşe Köksal Çetin, Chairwoman of the Board of Directors of Pet Holding, presented a plaque to Dr. M. Ali Ak, General Manager of Petoil.
The Chia Surkh Production Sharing Agreement has been terminated by Petoil.
Remembering Prof. Dr. HÜSEYİN GÜNTEKİN KÖKSAL
Honorary President of Petoil Inc., Prof. Dr. HÜSEYİN GÜNTEKİN KÖKSAL has passed away. We extend our deepest condolences to his family and loved ones.
As of November 2020, the deepening operation for the CS-10A/Eu well has begun.
Production at the Chia Surkh field has been temporarily suspended.
We are deeply saddened by the sudden loss of composer-pharmacist Ayşe Pınar Köksal, the Vice President of the Founders’ Board of the Köksal Education Foundation.
The CS-10A well is being prepared for production.
Production has commenced at the Chia Surkh field.
The CS-12 well is being prepared for production.
Petroil has acquired General Energy’s 40% stake in the Chia Surkh PSC. The new partnership structure is Petroil 80% (operator), KRI 20%.
All drilling and testing operations at the Chia Surkh-12 well have been completed.
Feasibility and engineering studies are ongoing for the field to be brought into production.
The Petoil team continues oil exploration activities at the Chia Surkh-12 well in the Iraqi Kurdistan Autonomous Region.
Pet Holding company Petoil has launched efforts to explore for oil in the U.S. state of Texas. Conducting the project in cooperation with the U.S.-based financial firm Framework Capital, Petoil will become the first Turkish company to search for oil in the United States. These activities of our company are receiving coverage in both domestic and international media.
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.
Petoil participated in the 7th East Africa Petroleum Conference and Exhibition (EAPCE’15) held in Rwanda. During the three-day event, the Petoil team had the opportunity to meet with representatives of many companies, while visitors were provided with detailed information about our company’s profile and projects. At the exhibition, where the Petoil stand attracted significant interest, extensive information was shared regarding business opportunities in Africa.
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.
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.
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.
The International Geophysical Congress and Exhibition of Turkey was held in Antalya between 25-27 November, under the sponsorship of Petoil.
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.
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.
2D seismic data acquisiton initiated on August 06, 2012 in Chia Surkh exploration
block in North Iraq, in which Petoil has a 20% interest.
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.
