Off-Shore exploration reach 4 Billion $

ekrem

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Aug 9, 2005
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After investing $4 billion in oil exploration in the Black Sea, the Turkish Petroleum Corporation, or TPAO, has announced potentially significant stores of oil and natural gas that could meet Turkey’s energy needs for decades.

“We believe there are 10 billion barrels’ worth of producible oil and 3 trillion cubic meters of producible natural gas in the Black Sea,” TPAO general director Mehmet Uysal said Thursday.

If TPAO could find this much oil or natural gas in the Black Sea, Turkey’s energy needs would be met for the next 40 years, Uysal said. The general director added that TPAO would invest $50 billion to $60 billion if oil production were to start in the Black Sea.

According to Uysal, TPAO believes there is a significant oil and natural gas potential in the Mediterranean as well.
(...)
TPAO's investments in Black Sea reach $4 billion - Hurriyet Daily News and Economic Review


International Partners in Black Sea exploration are:
- Chevron
- BP
- Petrobras
- Exxon (down picture is bit old, Exxon not marked)
LINK: Exxon to enter Black Sea in 2011
harita8.jpg



Turkish TPAO has also in consortium with BP and Chevron the exploration rights in Georgian part of Black Sea.
 
US military warns oil output may dip causing massive shortages by 2015 | Business | The Guardian

The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact.

The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.

"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day," says the report, which has a foreword by a senior commander, General James N Mattis.

It adds: "While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth in both the developing and developed worlds. Such an economic slowdown would exacerbate other unresolved tensions, push fragile and failing states further down the path toward collapse, and perhaps have serious economic impact on both China and India."
 
US military warns oil output may dip causing massive shortages by 2015 | Business | The Guardian

The US military has warned that surplus oil production capacity could disappear within two years and there could be serious shortages by 2015 with a significant economic and political impact.

The energy crisis outlined in a Joint Operating Environment report from the US Joint Forces Command, comes as the price of petrol in Britain reaches record levels and the cost of crude is predicted to soon top $100 a barrel.

"By 2012, surplus oil production capacity could entirely disappear, and as early as 2015, the shortfall in output could reach nearly 10 million barrels per day," says the report, which has a foreword by a senior commander, General James N Mattis.

It adds: "While it is difficult to predict precisely what economic, political, and strategic effects such a shortfall might produce, it surely would reduce the prospects for growth in both the developing and developed worlds. Such an economic slowdown would exacerbate other unresolved tensions, push fragile and failing states further down the path toward collapse, and perhaps have serious economic impact on both China and India."
Oh boy, an article!

Now let's take a good look at it.

The warning is the latest in a series from around the world that has turned peak oil – the moment when demand exceeds supply – from a distant threat to a more immediate risk.

Which has been the case since 1970 when Earth Day speakers went so far as to predict we'd be out of oil by 1980. Yeah... not so much. What stopped oil flowing then? Politics. What a surprise.

BP chief executive, Tony Hayward, said recently that there was little chance of crude from the carbon-heavy Canadian tar sands being banned in America because the US military like to have local supplies rather than rely on the politically unstable Middle East.

And why have our local supplies been 'dwindling'? Because of politically based moratoriums on drillling, production and refining in US controlled territory. Once again, politics is the limiter in question. Remove the politics blocking this, and huzzah! and oil will flow more, again.

"The Energy Information Administration (of the department of energy) has been saying for years that Peak Oil was "decades away". In light of the report from the US Joint Forces Command, is the EIA still confident of its previous highly optimistic conclusions?"

Huh... I wonder why the designated experts are disagreeing with the US Armed Forces? Maybe they know something more about it than what the agendas of the USJFC know?

The Joint Operating Environment report paints a bleak picture of what can happen on occasions when there is serious economic upheaval. "One should not forget that the Great Depression spawned a number of totalitarian regimes that sought economic prosperity for their nations by ruthless conquest," it points out.

To me this says bluntly that if there is an economic collapse, THEN we'll have a shortage of sources in which to import oil, leaving us with a severe short term energy crash. This seems more of why they're worried, a 'peak' of secure sources of oil. That's more the goals of the military. Secure resources, then count them in.

So, I wouldn't take this as proof of anything as much as a warning from the military our energy reserves aren't safe.
 
“We believe there are 10 billion barrels’ worth of producible oil and 3 trillion cubic meters of producible natural gas in the Black Sea,” TPAO general director Mehmet Uysal said Thursday.

oops. peak oil... popped again.

Fitz, what's it like having absolutely no idea what you're talking about?...

10 billion barrels... yeah... the world consumes 85 million barrels and 250 billion cubic meters per day. ... this "find" above represents about 3 months of the stuff.... meanwhile, you're waving your feathers like a big dumb peacock. ... you remind me of Plaxico Burress years ago when he spiked the ball at the 5 yard line, thinking he was in the end zone. ...

Read a bit more on the topic before pontificating about it.

once more, with feeling: mankind has not found a significant field of light crude oil anywhere on God's green Earth in over 40 years... a few little ANWRs like this one, but nothing that cracks a dent in our appetite... this despite decades of scouring the planet using ever-improving technology that would make your head spin. ... but of course, geologists and seismological engineers have somehow "overlooked" all these wondrous reserves people like you allude to that are merely "out there, ready to be found if we just pour more money into it." :rolleyes:

the age of cheap energy is over. ... get used to it, and learn to adjust, .... and for God's sake, learn to apply some critical analysis to rosey news reports out of Turkey that pretend the model of global oil trade can suddenly be contained for just Turkish consumption.

It's funny watching people like you obfuscate the latest confirmation of peak by a heavyweight entity, this time the Pentagon in its own Joint Operational Environment report above. ... Nevermind that its blatant admission of global peak supply is the same assessment emanating from the Department of Energy, the International Energy Agency, Total Oil, ASPO, the UN, and countless retired petroleum geologists (below) from BP, Shell, Chevron, and on and on. ... Heck, even CERA, long a peak oil denier, has had to change their entire story in recent years.

[ame]http://www.youtube.com/watch?v=cd7QGbNKxoQ[/ame]

Please educate yourself... I know it's an inner-battle, and the human condition is hard-wired to gravitate towards "everything is fine" sentiment... but fight through your denial stage. We're over here at acceptance, waiting for you with open arms.
 
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“We believe there are 10 billion barrels’ worth of producible oil and 3 trillion cubic meters of producible natural gas in the Black Sea,” TPAO general director Mehmet Uysal said Thursday.

oops. peak oil... popped again.

Fitz, what's it like having absolutely no idea what you're talking about?...

10 billion barrels... yeah... the world consumes 85 million barrels and 250 billion cubic meters per day. ... this "find" above represents about 3 months of the stuff.... meanwhile, you're waving your feathers like a big dumb peacock. ... you remind me of Plaxico Burress years ago when he spiked the ball at the 5 yard line, thinking he was in the end zone. ...

Read a bit more on the topic before pontificating about it.

once more, with feeling: mankind has not found a significant field of light crude oil anywhere on God's green Earth in over 40 years... a few little ANWRs like this one, but nothing that cracks a dent in our appetite... this despite decades of scouring the planet using ever-improving technology that would make your head spin. ... but of course, geologists and seismological engineers have somehow "overlooked" all these wondrous reserves people like you allude to that are merely "out there, ready to be found if we just pour more money into it." :rolleyes:

the age of cheap energy is over. ... get used to it, and learn to adjust, .... and for God's sake, learn to apply some critical analysis to rosey news reports out of Turkey that pretend the model of global oil trade can suddenly be contained for just Turkish consumption.

It's funny watching people like you obfuscate the latest confirmation of peak by a heavyweight entity, this time the Pentagon in its own Joint Operational Environment report above. ... Nevermind that its blatant admission of global peak supply is the same assessment emanating from the Department of Energy, the International Energy Agency, Total Oil, ASPO, the UN, and countless retired petroleum geologists (below) from BP, Shell, Chevron, and on and on. ... Heck, even CERA, long a peak oil denier, has had to change their entire story in recent years.

[ame]http://www.youtube.com/watch?v=cd7QGbNKxoQ[/ame]

Please educate yourself... I know it's an inner-battle, and the human condition is hard-wired to gravitate towards "everything is fine" sentiment... but fight through your denial stage. We're over here at acceptance, waiting for you with open arms.
Blah blah blah....

And when Earthday 1970 rolled around they 'looked at the math' back then too. And our style of life wasn't possibly sustainable past 1980.

You Chicken Littles of Peak Oil Doom and the Oludavi Trench just need to get over the fact that you... are and always have been wrong. We have LOT more oil to go, and the only thing stopping us are politics from the left desiring the collapse of western culture and humanity back to the dark ages.

Your desires serve no one well and do not match with reality because you have NO idea whatsoever what new tech will show up to make extraction easier, or what is possible to find over much of the Earth's Surface. But you don't want to try. You want your primitive society of berries nuts, thatched roofs, disease and mud cuz it's less 'evil' in your mind.
 
Blah blah blah....

And when Earthday 1970 rolled around they 'looked at the math' back then too. And our style of life wasn't possibly sustainable past 1980.

You are pontificating based on nothing more than vague recollection and hope that you won't be called on it.

Show the forum where those examples exist, liar. The math wasn't in back then, and that panic was based on political factors. Today, it's geology, and undeniable.

You Chicken Littles of Peak Oil Doom and the Oludavi Trench just need to get over the fact that you... are and always have been wrong. We have LOT more oil to go, and the only thing stopping us are politics from the left desiring the collapse of western culture and humanity back to the dark ages.

Actually, we've always been correct.

I'll ask you again: Where is the light crude then? You won't have an answer besides hope-based pablum. And heavy shale/tar sands is not oil. Not the kind that perpetuates "infinite growth."

You can't point to it, because it does not exist in any sufficient quantity. ... What's most telling is that you can't refute what the Pentagon, IEA, ASPO, UN, EIA and countless petrol geologists have all concluded.

Your desires serve no one well and do not match with reality because you have NO idea whatsoever what new tech will show up to make extraction easier, or what is possible to find over much of the Earth's Surface. But you don't want to try. You want your primitive society of berries nuts, thatched roofs, disease and mud cuz it's less 'evil' in your mind.

LOL... you are SUCH a limited poster. I expected a bit more, but obviously you're incapable of applying critical analysis to a subject you so arrogantly confident of, based on nothing more than "hope."... Hope is not a policy. ... Pragmatism and practicality is a policy.

Again, where is the oil? How long before it can be extracted and refined? At what cost?

There are ways to mitigate this problem, and no one wants societal collapse. But it's deniers like yourself who keep us all stuck in the mud, spinning our wheels, continuing to feed the gluttonous beast. ... Grow up, evolve, and educate yourself.

I would advise you to watch the last 3 chapters of Chris Martenson's "Crash Course," learn about the exponential function, and stop relying on the Bible for all your answers to undeniable resource depletion that is already effecting everything we do.

Here you are, know it all:

[ame=http://www.youtube.com/watch?v=cwNgNyiXPLk&feature=channel]YouTube - Crash Course: Chapter 17a - Peak Oil by Chris Martenson[/ame]
 
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You are pontificating based on nothing more than vague recollection and hope that you won't be called on it.

Show the forum where those examples exist, liar. The math wasn't in back then, and that panic was based on political factors. Today, it's geology, and undeniable.

It's politics and it's obvious to anyone not sucking the turd.

Here's a few quotes I found after a simple Bing search.

“Civilization will end within 15 or 30 years unless immediate action is taken against problems facing mankind.”
• George Wald, Harvard Biologist

“Population will inevitably and completely outstrip whatever small increases in food supplies we make. The death rate will increase until at least 100-200 million people per year will be starving to death during the next ten years.”
• Paul Ehrlich, Stanford University biologist

“Dr. S. Dillon Ripley, secretary of the Smithsonian Institute, believes that in 25 years, somewhere between 75 and 80 percent of all the species of living animals will be extinct.”
• Sen. Gaylord Nelson

“The world has been chilling sharply for about twenty years. If present trends continue, the world will be about four degrees colder for the global mean temperature in 1990, but eleven degrees colder in the year 2000. This is about twice what it would take to put us into an ice age.”
• Kenneth Watt, Ecologist

Oops!

I'll ask you again: Where is the light crude then? You won't have an answer besides hope-based pablum. And heavy shale/tar sands is not oil. Not the kind that perpetuates "infinite growth."

Oh so now we can only have petroleum if it's light crude? Speaking of growing up. Yes, it is true, the KNOWN fields of this have dwindled some thanks to use, but this does not equal that we have hit peak oil. Secondly, our largest source of oil IS Canadian Tar Sands. Wow... seem to be doing pretty well with that, don't we? Hell, even Hitler was able to power his war machine for a while on Coal Gassifications, which in the 1970's they discovered is profitable at 1.60ish a refined gallon. Would you like 1.60 a gallon gas again? I sure as hell would.

As for your absurd notion of "Infinate growth"...? Name ONE energy source that has that. Just one. I've never asserted that. The only assertion I make is that the end of a petroleum based society will come by technological evolution and the end of petroleum by consumption is centuries off. The market already has the most effective indicator of when that will be: Price. But, for those of us who aren't blind suckers out there, the price means that we must first look EVERYWHERE before declaring a true peak.

Here's a nice little bit for your faith in the USGS and their predictive geology:

As reported in the Jewish World Weekly

"It's not just latter-day doomsayers who have been wrong; doomsayers have always been wrong. In 1885, the U.S. Geological Survey announced there was "little or no chance" of oil being discovered in California, and a few years later they said the same about Kansas and Texas. In 1939, the U.S. Department of the Interior said American oil supplies would last only another 13 years. In 1949, the Secretary of the Interior said the end of U.S. oil supplies was in sight. Having learned nothing from its earlier erroneous claims, in 1974 the U.S. Geological Survey advised us that the U.S. had only a 10-year supply of natural gas. The fact of the matter, according to the American Gas Association, there's a 1,000 to 2,500 year supply."

LOL... you are SUCH a limited poster. I expected a bit more, but obviously you're incapable of applying critical analysis to a subject you so arrogantly confident of, based on nothing more than "hope."... Hope is not a policy. ... Pragmatism and practicality is a policy.

Really? Tell your 'god' obama that while you're at it, that Hope is not a policy.

How much of the ocean has been thoroughly explored? How much is currently out of range due to current technology levels? How fast will this equation change when new methods and tools are created and used for extraction. You don't know! You can't know! That's why Peak Oil is BULLSHIT! Simple logic jackhole. Is that critical thinking enough for you? I can also ask questions like, how much better information would we have about our own domestic resources if the laws that currently prevent reasonable and thorough exploration were removed? How much more improvement in the energy infrastructure would be attained by eliminating ALL energy subsidies, particularly GREEN energy?

I don't critically think? I'm not the one posting Youtube "Evidence" by activists. Well here are some activists from the flip side of the coin. Who has more truthiness in your mind, I wonder? The ones who say, we're all gonna die in three months or those that say, the end of petroleum is centuries off.

Peak Oil? Include Me Out

The Myth Of Peak Oil Wow even conspiracy nuts believe peak oil is a scam for power! Quelle strange! But, they have one thing right, the shortages ARE political and artificial.

There are ways to mitigate this problem, and no one wants societal collapse. But it's deniers like yourself who keep us all stuck in the mud, spinning our wheels, continuing to feed the gluttonous beast. ... Grow up, evolve, and educate yourself.

Pull your cranial knob out of your cloacae, puddin-pop. You are ADDICTED to societal change! It is the very GOAL of Peak Oilers! What a fucking lie. You want to divest our entire culture from petroleum (an impossibility at current tech) and shove us onto unproven, unstable, insufficient forms of energy (Pinwheels, mirrors and moonshine) to save the earth from a fake crisis brought about by econazis and politicians trying to get what they can.

Again, where is the oil? How long before it can be extracted and refined? At what cost?

Faster than it will take for any current alternative energy source to equal the EROI that is found in even petroleum substitutes. And that will be paid by any cost, because we have no choice in the matter till a new source is discovered. NO CURRENT GREEN/ALTERNATIVE ENERGY SOURCES EXIST THAT CAN EQUAL THE REQUIREMENTS OF PETROLEUM AND DECREASING DEMAND IS NOT AN OPTION FOR GLOBAL SURVIVAL. This is an ugly reality. At best, Pinwheels, Mirrors and Moonshine will be able to meet our STATIC needs for energy in maybe a century if we start building nuclear power plants now. If not, we will never catch up. And that STILL won't address the fact that there is no replacement for petroleum as a mobile stored energy source.

I would advise you to watch the last 3 chapters of Chris Martenson's "Crash Course," learn about the exponential function, and stop relying on the Bible for all your answers to undeniable resource depletion that is already effecting everything we do.

I don't watch online videos. Provide a transcript. I don't look to the Bible for my answers on Peak Oil as preached by you chicken littles, I look to basic logic and history. And let's face it... both are against you.

I'll give you a tip why, too; You always use straight line projection. No matter what way you slice it, by line or parabola, your evidence always backs your conclusion. This happens on EVERY subject that someone tries to use math to predict a trend. Why? Because you can't predict chaos theory beyond a short distance. Never can, and at least (with my OWN straight line prediction) never will.

BTW, I wonder if the creation of the EPA and signing of the Clean Air Act in 1970 have anything to do with 'peak oil' being reached in that year? Things that make you go, 'hmmmmmmm....'

And for the record. I'm not a know it all... I'm just harder to bullshit than you.

And just for fun... Predictions of our today... from back then.

Paleo-Future
 
Big Fits... what an appropriate screen name....

Your argument is sorta like a loved one insisting that a cancer patient who didn't die the first time is never gonna die.

I'll be back when I have a bit of time to address each and every laughable paragraph.

"Harder to bullshit"... that's a good one. You diet on bullshit, as evidenced by this easily deconstructed argument above.

Get your popcorn!
 
Big Fits... what an appropriate screen name....

Your argument is sorta like a loved one insisting that a cancer patient who didn't die the first time is never gonna die.

I'll be back when I have a bit of time to address each and every laughable paragraph.

"Harder to bullshit"... that's a good one. You diet on bullshit, as evidenced by this easily deconstructed argument above.

Get your popcorn!
Jiggles. Who you got over there with you? Ms. Clio giving you energy info?

You go ahead. All Chicken Littles expose themselves in the end as panicked little leftists just looking for big brother to take over and 'save them' from the scary bad math monster.
 
From the Operational Financial Report of State Petrol Company (TPAO)

Page 2 ( Introduction of CEO)
- Oil in the Black Sea will last for more then 40 years independence at current Turkish consume rate
- with Yassihöyük well (7.126 meters, 46th deepest Off-Shore well in world) TPAO has become the 12th company able to drill ultra-deep in Off-Shore
- by 2023 Turkey will become energy independent and TPAO a competitive company on global scale
- So far we have set-up joint-ventures with Exxon (USA), Chevron (USA) and Petrobras (Brazil) to extract the oil

Page 21
- the Off-Shore exploration works in last 6 years equals the total of 56 year company history
- in last 6 years 74.500 km² have been mapped in 2D and 14.000 km² in 3D

http://www.tpao.gov.tr/v1.4/condocs/tpao_yillikrapor09.pdf
 
Jiggles. Who you got over there with you? Ms. Clio giving you energy info?

Nope, just a basic understanding of the exponential function, and supply data. Something you clearly lack.

You go ahead. All Chicken Littles expose themselves in the end as panicked little leftists just looking for big brother to take over and 'save them' from the scary bad math monster.

Sad as this inevitable reality is, the most satisfying part is that it's "drill baby drill" conservatives who will fall hardest and be the most vulnerable when collapse arrives. They'll have nothing but their gun and their bible, while they sit there and blame every one else (gays, blacks, liberals, Islam, communists) for the problems their own greed and gluttony created.
 
From the Operational Financial Report of State Petrol Company (TPAO)

Page 2 ( Introduction of CEO)
- Oil in the Black Sea will last for more then 40 years independence at current Turkish consume rate
- with Yassihöyük well (7.126 meters, 46th deepest Off-Shore well in world) TPAO has become the 12th company able to drill ultra-deep in Off-Shore
- by 2023 Turkey will become energy independent and TPAO a competitive company on global scale
- So far we have set-up joint-ventures with Exxon (USA), Chevron (USA) and Petrobras (Brazil) to extract the oil

Page 21
- the Off-Shore exploration works in last 6 years equals the total of 56 year company history
- in last 6 years 74.500 km² have been mapped in 2D and 14.000 km² in 3D

http://www.tpao.gov.tr/v1.4/condocs/tpao_yillikrapor09.pdf

Your link is written in Turkish, thus useless in terms of bottom line data. What is the total proven reserves they seem to be referring to?

This above says next to nothing. Turkish consumption rates? Who gives a crap? It's a global oil community.
 
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Quote: Originally Posted by Big Fitz View Post
You go ahead. All Chicken Littles expose themselves in the end as panicked little leftists just looking for big brother to take over and 'save them' from the scary bad math monster.


Sad as this inevitable reality is, the most satisfying part is that it's "drill baby drill" conservatives who will fall hardest and be the most vulnerable when collapse arrives. They'll have nothing but their gun and their bible, while they sit there and blame every one else (gays, blacks, liberals, Islam, communists) for the problems their own greed and gluttony created.

This is just too much! LOL. Your whole perspective is based on one theory that has NEVER come true in the history when viewing the course of mankind and society: The "Straight Line Assumption". Things have always gone this way, so they will continue to be this way. The business cycle is always ignored till it corrects or recovered. Idiots always claim that the good or bad times roll on forever. Chaos theory prevents us currently from accurately predicting so far out.

So since we can't predict the weather at a particular local, accurately, outside of 24-36 hours, you expect to know the approximate "mathematically accurate" where we're going to run out of fuel. You've taken EVERY SINGLE POSSIBLE RANDOM VARIABLE THAT COULD POSSIBLY EXIST into account and packed it into that little computer model you got, and will have the correct answer. Is that what you're trying to tell me Professor Frink?

Standard variables that peakers deliberately ignore: Technological improvements in the collection, use and refinement of oil. New find in places previously out of reach, the changes in consumption due to economics and politics.

And of course, ignoring the fact that we energy realists do know there will be a replacement energy source coming along soon enough when it becomes the most economically viable with the highest EROEI. Instead you try to claim that we're ignoring peak oil because we're too racist, sexist, homophobes. Way to compare apples to transmissions to lace doilies.

About as useful as chicken shit on a pump handle. That's what good peak oil faithers are.
 

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