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Turkey Oil and Gas Markets Investment Opportunities, Analysis and Forecasts to 2020


Description: Turkey Oil and Gas Markets Investment Opportunities, Analysis and Forecasts to 2020

Summary

This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Turkey. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the oil and gas assets (oil and gas fields, exploration blocks, refineries, pipelines, LNG terminals and storage terminals) in Turkey. The report also analyses the fiscal regime relevant to the oil and gas assets in Turkey and compares the investment environment in Turkey with other countries in the region. The profiles of the major companies operating in the oil and gas sector in Turkey together with the latest news and deals are also included in the report.

Scope

- Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 1995-2020.
- Historical and forecast data and information for all the major exploration blocks, oil and gas fields, refineries, pipelines, LNG terminals and storage terminals in Turkey for the period 1995-2020.
- Operator and equity details for major oil and gas assets in Turkey
- Key information relating to market regulations, key energy assets and the key companies operating in the Turkey’s energy industry.
- Detailed information on key fiscal terms (such as rents, bonuses, royalty, cost recovery, profit oil, petroleum and corporate taxes) pertaining the geography is also provided. A sample calculation detailing how fiscal terms apply to a typical asset in the regime is included.
- Information on the top companies in the Turkey including business description, strategic analysis, and financial information.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.

Reasons to buy

- Gain a strong understanding of the country’s energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Evaluate the attractiveness of the geography for oil and gas investment in the light of government policies and the fiscal environment.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Understand the geography’s policies and fiscal terms, and their impact on contractor’s profits from upstream oil and gas assets.
- Assess your competitor’s major oil and gas assets and their performance.
- Analyze the latest news and financial deals in the oil and gas sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in each the country.


Contents: 1
1 2
1.1 List of Tables 9
1.2 List of Figures 12
2 Introduction 13
2.1 What Is This Report About? 13
2.2 How To Use This Report 14
2.3 Market Definition 14
3 Turkey Energy Sector 16
3.1 Turkey Energy Sector, Market Overview 16
3.2 Turkey Energy Sector, Crude Oil 17
3.2.1 Turkey Crude Oil, Overview 17
3.2.2 Turkey Crude Oil, Supply and Demand Balance 17
3.2.3 Turkey Crude Oil, Regulatory Structure 23
3.2.4 Turkey Crude Oil, Infrastructure 24
3.3 Turkey Energy Sector, Natural Gas 25
3.3.1 Turkey Natural Gas, Overview 25
3.3.2 Turkey Natural Gas, Supply and Demand Balance 25
3.3.3 Turkey Natural Gas, Regulatory Structure 32
3.3.4 Turkey Natural Gas, Infrastructure 32
3.4 Turkey Energy Sector, Coal 33
3.4.1 Turkey Coal, Overview 33
3.4.2 Turkey Coal, Supply and Demand Balance 33
3.4.3 Turkey Coal, Regulatory Structure 38
3.4.4 Turkey Coal, Infrastructure 38
3.5 Turkey Energy Sector, Electricity 39
3.5.1 Turkey Electricity, Overview 39
3.5.2 Turkey Electricity, Supply and Demand Balance 40
3.5.3 Turkey Electricity, Regulatory Structure 46
3.5.4 Turkey Electricity, Infrastructure 47
4 Turkey Fiscal Regime 48
4.1 Turkey Fiscal Regime, Turkey Petroleum Fiscal Environment 48
4.2 Turkey Fiscal Regime, License Terms 49
4.3 Turkey Fiscal Regime, Key Fiscal Terms 50
4.4 Turkey Fiscal Regime, Sample Cashflows Calculations 53
5 Turkey Upstream Investment Environment Benchmarking 54
5.1 Introduction 54
5.2 The Overall Ranking 54
5.3 Upstream Fiscal Attractiveness 55
5.3.1 Maximum Government Take Index 56
5.3.2 Maximum State Participation 56
5.4 Oil and Gas Sector Performance 57
5.4.1 Exploration Activity 59
5.4.2 Oil and Gas Production 60
5.4.3 Oil and Gas Reserves 60
5.4.4 Consumption 61
5.4.5 Refining Industry 61
5.5 Economic Performance 61
5.5.1 GDP Growth Index 63
5.5.2 FDI Confidence Index 63
5.5.3 Balance of Trade Index 63
5.6 Socio-Political Performance 63
5.6.1 Democracy Index 65
5.6.2 Governance Index 65
5.7 Turkey Exploration and Production Sector, Country Snapshot 65
5.7.1 Turkey Exploration and Production Sector, Key Data 65
5.7.2 Turkey Exploration And Production Sector, Assets Map 66
5.8 Turkey Exploration and Production Sector, Reserves 67
5.8.1 Turkey Exploration and Production Sector, Crude Oil & Natural Gas Reserves 67
5.9 Turkey Exploration and Production Sector, Production 69
5.9.1 Turkey Exploration and Production Sector, Historical Crude Oil Production 69
5.9.2 Turkey Exploration and Production Sector, Historical Natural Gas Production 70
5.10 Turkey Exploration and Production Sector, Asset Details 71
5.10.1 Turkey Exploration and Production Sector, Crude Oil Production Assets by Area 71
5.10.2 Turkey Exploration and Production Sector, Natural Gas Production Assets by Area 71
5.10.3 Turkey Exploration and Production Sector, Crude Oil Production by Company 72
5.10.4 Turkey Exploration and Production Sector, Natural Gas Production by Company 72
5.11 Turkey Exploration and Production Sector, Exploration Block Details 73
6 Turkey Exploration and Production Sector 80
6.1 Turkey Exploration and Production Sector, Country Snapshot 80
6.1.1 Turkey Exploration and Production Sector, Key Data 80
6.1.2 Turkey Exploration And Production Sector, Assets Map 81
6.2 Turkey Exploration and Production Sector, Reserves 82
6.2.1 Turkey Exploration and Production Sector, Crude Oil & Natural Gas Reserves 82
6.3 Turkey Exploration and Production Sector, Production 84
6.3.1 Turkey Exploration and Production Sector, Historical Crude Oil Production 84
6.3.2 Turkey Exploration and Production Sector, Historical Natural Gas Production 85
6.4 Turkey Exploration and Production Sector, Asset Details 86
6.4.1 Turkey Exploration and Production Sector, Crude Oil Production Assets by Area 86
6.4.2 Turkey Exploration and Production Sector, Natural Gas Production Assets by Area 87
6.4.3 Turkey Exploration and Production Sector, Crude Oil Production by Company 87
6.4.4 Turkey Exploration and Production Sector, Natural Gas Production by Company 87
6.5 Turkey Exploration and Production Sector, Exploration Block Details 88
7 Turkey Refining Sector 95
7.1 Turkey Refining Sector, Overview 95
7.2 Turkey Refining Sector, Crude Distillation Unit Capacity 95
7.3 Turkey Refining Sector, Fluid Catalytic Cracking Capacity 96
7.4 Turkey Refining Sector, Hydrocracking Capacity 96
8 Turkey Pipeline Sector 97
8.1 Turkey Pipeline Sector, Crude Oil Pipelines 97
8.2 Turkey Pipeline Sector, Natural Gas Pipelines 98
9 Turkey LNG Sector 99
9.1 Turkey LNG Sector, Regasification Capacity 99
10 Profile of British Petroleum Plc 100
10.1 British Petroleum Plc, Key Information 100
10.2 British Petroleum Plc, Company Overview 100
10.3 British Petroleum Plc, Business Description 100
10.3.1 British Petroleum Plc, Business Description, Business Overview 100
10.3.2 British Petroleum Plc, Business Description, Exploration and Production 101
10.3.3 British Petroleum Plc, Business Description, Gas, Power and Renewables 102
10.3.4 British Petroleum Plc, Business Description, Refining and Marketing 103
10.3.5 British Petroleum Plc, Business Description, Major Products and Services 105
10.4 British Petroleum Plc, Value Chain Analysis 106
10.4.1 British Petroleum Plc, Value Chain Analysis, Upstream 107
10.4.2 British Petroleum Plc, Value Chain Analysis, Midstream 108
10.4.3 British Petroleum Plc, Value Chain Analysis, Downstream 109
10.4.4 British Petroleum Plc, Value Chain Analysis, Retail 109
10.5 British Petroleum Plc, SWOT Analysis 111
10.5.1 British Petroleum Plc, SWOT Analysis, Overview 111
10.5.2 British Petroleum Plc, SWOT Analysis, British Petroleum Plc Strengths 111
10.5.3 British Petroleum Plc, SWOT Analysis, British Petroleum Plc Weaknesses 112
10.5.4 British Petroleum Plc, SWOT Analysis, British Petroleum Plc Opportunities 113
10.5.5 British Petroleum Plc, SWOT Analysis, British Petroleum Plc Threats 114
10.6 British Petroleum Plc, Revenue Analysis 115
10.6.1 British Petroleum Plc, Revenue Analysis, Revenue by Segment 115
10.6.2 British Petroleum Plc, Revenue Analysis, Revenue by Geography 115
10.7 British Petroleum Plc, Financial and Operational Review 117
10.7.1 British Petroleum Plc, Financial and Operational Review, Financial Statements 117
10.7.2 British Petroleum Plc, Financial and Operational Review, Financial Ratios 118
10.8 British Petroleum Plc, Operational Indicators 119
11 Proile of Petroleo Brasileiro S.A. 120
11.1 Petroleo Brasileiro S.A., Key Information 120
11.2 Petroleo Brasileiro S.A., Company Overview 120
11.3 Petroleo Brasileiro S.A., Business Description 120
11.3.1 Petroleo Brasileiro S.A., Business Description, Business Overview 120
11.3.2 Petroleo Brasileiro S.A., Business Description, Distribution 121
11.3.3 Petroleo Brasileiro S.A., Business Description, Exploration and Production 121
11.3.4 Petroleo Brasileiro S.A., Business Description, Gas and Energy 123
11.3.5 Petroleo Brasileiro S.A., Business Description, International 124
11.3.6 Petroleo Brasileiro S.A., Business Description, Supply 125
11.3.7 Petroleo Brasileiro S.A., Business Description, Major Products and Services 126
11.4 Petroleo Brasileiro S.A., Value Chain Analysis 128
11.4.1 Petroleo Brasileiro S.A., Value Chain Analysis, Upstream 129
11.4.2 Petroleo Brasileiro S.A., Value Chain Analysis, Midstream 130
11.4.3 Petroleo Brasileiro S.A., Value Chain Analysis, Downstream 131
11.4.4 Petroleo Brasileiro S.A., Value Chain Analysis, Retail 131
11.5 Petroleo Brasileiro S.A., SWOT Analysis 132
11.5.1 Petroleo Brasileiro S.A., SWOT Analysis, Overview 132
11.5.2 Petroleo Brasileiro S.A., SWOT Analysis, Strengths 133
11.5.3 Petroleo Brasileiro S.A., SWOT Analysis, Weaknesses 134
11.5.4 Petroleo Brasileiro S.A., SWOT Analysis, Opportunities 134
11.5.5 Petroleo Brasileiro S.A., SWOT Analysis, Threats 135
11.6 Petroleo Brasileiro S.A., Revenue Analysis 136
11.6.1 Petroleo Brasileiro S.A., Revenue Analysis, Revenue by Segment 136
11.6.2 Petroleo Brasileiro S.A., Revenue Analysis, Revenue by Geography 137
11.7 Petroleo Brasileiro S.A., Financial and Operational Review 138
11.7.1 Petroleo Brasileiro S.A., Financial and Operational Review, Financial Statements 138
11.7.2 Petroleo Brasileiro S.A., Financial and Operational Review, Financial Ratios 139
11.8 Petroleo Brasileiro S.A., Operational Indicators 140
12 Turkey Financial Deals Landscape 141
12.1 Asset Transactions 141
12.1.1 TransAtlantic Petroleum Farms Out Turkey Exploration Licenses 141
12.1.2 Incremental Acquires Additional 30% Interest In The Edirne, Catalca And Ortakoy Licenses From Otto 142
13 Turkey Recent Developments 145
13.1 Government and Public Interest 145
13.1.1 Jan 03, 2008: Turkey, Syria To Build Joint Oil Exploration Company 145
13.2 Strategy and Business Planning 145
13.2.1 May 23, 2008: Incremental Receives Eight Exploration Licenses In Central Turkey 145
13.2.2 May 17, 2008: TPAO To Expand Its Exploration In The Eastern Mediterranean Sea 146
13.2.3 Apr 21, 2008: TPAO To Cooperate On Oil Exploration In Iraq 146
13.2.4 Jan 10, 2008: JKX Farms Into Two Exploration Licenses In Turkey 147
13.3 Operations Updates 147
13.3.1 May 27, 2008: Incremental Updates On Ikihoyuk-1 Well 147
13.3.2 May 15, 2008: Otto Encounters Gas In Arpaci-2 In Turkey 148
13.3.3 May 07, 2008: Otto And Incremental Spuds Arpaci-2 Well In Western Turkey 148
13.3.4 May 07, 2008: Incremental Updates On Its Edirne Project 148
13.3.5 May 01, 2008: Otto Energy Makes Sixth Gas Discovery In Turkey 149
13.3.6 Apr 28, 2008: Otto Energy Updates On Drilling Campaign In Turkey 149
13.3.7 Apr 22, 2008: BP Starts Oil Production From Deep Water Gunashli Platform 150
13.3.8 Apr 04, 2008: Incremental Discovers Gas In First Well Of Edirne Drilling, Turkey 150
13.3.9 Mar 27, 2008: Incremental, Otto Announce Spudding Of First Well In 2008 Of Edirne Gas Project 151
13.3.10 Mar 18, 2008: Stratic Energy Commences Gas Production From Its Ayazli Gas Field 151
13.3.11 Mar 14, 2008: Eureka Provides Operational Update 151
13.3.12 Feb 19, 2008: Incremental Provides Operational Update 152
13.3.13 Feb 11, 2008: Stratic Energy Announces Resumption Of Gas Production, Offshore Turkey 152
13.3.14 Nov 14, 2007: BP Announces Gas Discovery In Shah Deniz Field 153
13.3.15 Nov 12, 2007: Incremental Completes Horizontal Drilling At Selmo Well 22 153
13.3.16 Nov 01, 2007: Toreador Discovers Gas At Bati Eskikale-1 Well 154
13.4 Financial Announcements 154
13.4.1 Apr 24, 2008: TPAO To Invest More On Oil, Gas Exploration 154
14 Appendix 155
14.1 Methodology 155
14.1.1 Coverage 155
14.1.2 Secondary Research 156
14.1.3 Primary Research 156
14.1.4 Forecasts 157
14.1.5 Expert Panel Validation 159
14.2 Definitions 159
14.3 Unit of Measure 160
14.4 Disclosure information 161
14.5 Contact Us 161
14.6 About us161
14.7 Disclaimer 161



Executive Summary

1.2 List of Figures

Figure 1: Turkey, Energy Sector Break-Up, 2006 16
Figure 2: Turkey, Crude Oil Production And Consumption (Thousand Barrels Per Day), 1996-2020 19
Figure 3: Turkey, Crude Oil Imports (Thousand Barrels Per Day), 1996-2020 21
Figure 4: Turkey, Crude Oil Reserves (Million Barrels), 1996-2020 23
Figure 5: Turkey, Natural Gas Production And Consumption (Billion Cubic Feet), 1996-2020 27
Figure 6: Turkey, Natural Gas Imports (Billion Cubic Feet), 1996-2020 29
Figure 7: Turkey, Natural Gas Reserves (Billion Cubic Feet), 1996-2020 31
Figure 8: Turkey, Coal Production And Consumption (Million Tons), 1996-2020 35
Figure 9: Turkey, Coal Import (Million Tons), 1996-2020 37
Figure 10: Turkey, Electricity Production by Fuel Type, 2006 39
Figure 11: Turkey, Electricity Consumption by End User, 2006 40
Figure 12: Turkey, Electricity Generation Capacity (Megawatt), 1996-2020 42
Figure 13: Turkey, Electricity Generation And Consumption (Billion Kilowatt Hours), 1996-2020 44
Figure 14: Turkey, Electricity Imports And Exports (Billion Kilowatt Hours), 1996-2020 46
Figure 15: Turkey, Upstream Oil & Gas Fiscal Regime (Royalty/Tax), Sample Cashflows, 2005-2016 53
Figure 16: Eastern Europe, Country Standings, Upstream Fiscal Attractiveness, April 2008 56
Figure 17: Eastern Europe, Country Standings, Oil and Gas Sector Performance, April 2008 58
Figure 18: Eastern Europe, Country Standings, Oil and Gas Sector Performance, April 2008 (Contd.) 59
Figure 19: Eastern Europe, Country Standings, Exploration Blocks Awarded, April 2008 60
Figure 20: Eastern Europe, Country Standings, Economic Performance, April 2008 62
Figure 21: Eastern Europe, Country Standings, Socio-Political Performance, April 2008 64
Figure 22: Turkey, Exploration and Production Assets Map, April 2008 66
Figure 23: Turkey, Total Crude Oil and Natural Gas Reserves (MMBOE), 2000-2012 67
Figure 24: Turkey, Total Crude Oil Production (MMBBLs), 2000-2007 69
Figure 25: Turkey, Total Natural Gas Production (BCF), 2000-2007 70
Figure 26: Turkey, Total Number of Active Exploration Blocks, 2000-2007 73
Figure 27: Turkey, Exploration and Production Assets Map, April 2008 81
Figure 28: Turkey, Total Crude Oil and Natural Gas Reserves (MMBOE), 2000-2012 82
Figure 29: Turkey, Total Crude Oil Production (MMBBLs), 2000-2007 84
Figure 30: Turkey, Total Natural Gas Production (BCF), 2000-2007 85
Figure 31: Turkey, Total Number of Active Exploration Blocks, 2000-2007 88
Figure 32: British Petroleum Plc, Value Chain Analysis 106
Figure 33: Petroleo Brasileiro S.A., Value Chain Analysis 128
Figure 34: Global Markets Direct Methodology 155



Companies Mentioned Profile of British Petroleum Plc Proile of Petroleo Brasileiro S.A.


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