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Related Companies
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[TRCAS]
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English
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Hayır (No)
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Hayır (No)
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Hayır (No)
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As already known, in the last quarter of 2017, Turcas Petrol A.Ş.'s 92% subsidiary Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş. plans to start commercial operations of its 18 MW geothermal power plant investment located in Aydın province, Kuyucak district following 8 successful drillings. In addition, as already disclosed in our Company's public disclosure dated 23 February 2017, our subsidiary Turcas Yenilenebilir Enerji Üretim A.Ş. has started geothermal drilling located in Denizli province, Hacıeyüplü field.
Meanwhile, our Company aims to expand its expertise in geothermal drillings for exploration and generation to oil exploration operations in territories. Accordingly, Turcas Petrol A.Ş. has submitted an oil exploration license application for M-22A plot, in which geophysic pilot studies were performed, to Turkey's Ministry of Energy and Natural Resources Petroleum Directorate, benefitting from the data obtained from geology and hydrogeology works performed in Denizli.
Above mentioned application is published on the Official Gazette dated 29 March 2017 following pre evaluation. Accordingly, 90 day public display period has started. At the end of this period, an Investment Program will be presented to Petroleum Directorate in line with the legislation. In case the mentioned Investment Program is found appropriate and Exploration License is granted, our Company plans to start the investment subject to Board of Directors' decision.
Further developments will be shared with the public.
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