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MEOG NEWS IN BRIEF MEOG

OIL ports, an Iraqi oil source has said. GAS
REUTERS
India’s top refiner raises Idemitsu Kosan yet to TPAO wraps up all planned

Iraq oil supplies well tests on Sakarya

Indian Oil Corp. (IOC), the country’s top consider resuming Iran oil Turkish oil and gas operator TPAO has
refiner, will increase crude purchases from imports completed all planned flow tests in the
Iraq by 11.5% in 2022 to 390,000 barrels per Sakarya gas field located in the Black Sea,
day (bpd), partly to make up for a shortfall Japan’s second largest refiner Idemitsu Kosan obtaining important information regarding
from Mexico and a possible supply cut from said Feb. 8 it is yet to consider resuming the potential of the field.
Kuwait, two sources familiar with the matter Iranian crude oil imports, despite the recent It is worth noting that Turkey has recently
said. Iraq is the top supplier of oil to India and US move to grant some sanctions relief to changed its name to Türkiye.
its market share there is set to rise as another Tehran’s civil nuclear program. The first flow test on the Türkali-1
refiner Hindustan Petroleum Corp will also “At this moment, we do not have any appraisal well was completed in January 2022
buy more crude from the Middle Eastern plans to resume [imports of] Iranian crude and the first reservoir section flowed gas at a
nation. India is the world’s third biggest oil oil,” Yoshitaka Onuma, general manager of rate of 1.15 MMSCMD (40.4 MMSCFD) with
importer. Idemitsu Kosan’s finance department, told an results proving excellent well deliverability
IOC has resorted to buying higher volumes online earnings press conference. and reservoir connectivity.
from Iraq as Mexico is curbing supplies as it The US State Department notified TPAO has now performed the second flow
opens a new refinery, sources said. Congress Feb. 4 that it was restoring a test of Türkali-1 appraisal well in the Sakarya
Indian refiners also expect oil supplies sanctions waiver to allow third-party gas field and the second reservoir section
from Kuwait could be cut in the next fiscal participation in nuclear non-proliferation and flowed gas at a rate of 0.62 MMSCMD (21.9
year starting in April as Kuwait aims to start safety projects, in particular with respect to MMSCFD). Results from this test also proved
its 615,000 bpd Al-Zour refinery this year, the rising stockpiles of enriched uranium in Iran, excellent well deliverability and reservoir
sources said. a senior State official said on the condition of connectivity, according to TPAO.
Last year, Kuwait had initially signed anonymity. Melih Han Bilgin, TPAO’s Chairman and
a nine-month oil supply contract with The Joint Comprehensive Plan of Action of CEO, indicated that: “All planned well tests are
Indian refiners but later extended it by three 2015 set restrictions on Iran’s nuclear program completed successfully. The results provided
months to March 2022 due to a delay in the in exchange for relief from US sanctions. The important information for us regarding the
commissioning of Al-Zour refinery. Trump administration reimposed sanctions potential of the field.”
Mexico’s national oil company Pemex on Iran’s oil, petrochemicals, shipping, and The planned flow tests were carried out
has agreed to supply 22,000 bpd (1.1 million other sectors, in 2018. Talks to revive the at two appraisal wells and five different
tonnes) of oil to IOC, the sources said. JCPOA stalled mid-2021 but restarted in reservoirs. To remind, the first flow test of the
Last year, IOC had term deals to buy December. Japan suspended its Iranian oil Türkali-2 appraisal well was completed in late
350,000 bpd (17.5 million tonnes) from Iraq’s imports in May 2019, after briefly resuming July 2021. Data and samples acquired from
oil marketing company SOMO, and about inflows in February for the first time in four the flow tests are being evaluated to further
40,000 bpd (2 million tonnes) from Pemex, months, after the US declined to extend its optimise the field development work and to
one of the sources said. IOC, SOMO, Iraq’s 180-day sanctions waiver beyond early May refine the front-end engineering and design
oil ministry and Pemex did not respond to on Iranian oil imports. Japan’s 2019 Iranian oil (FEED). First gas is expected to reach the
Reuters requests for comment. As OPEC’s imports totalled 17.10 million barrels, down Filyos gas processing terminal in 2023.
second-largest oil producer, Iraq will be able 63.2% from 46.51 million barrels in 2018, Türkali-1, an ultra-deep offshore appraisal
to boost exports by as much as 250,000 bpd according to the Ministry of Economy, Trade well, has been drilled to a total depth of 3,920
from the second quarter after finishing the and Industry data. meters in 2,143 meters water depth. It was the
installation of pumping stations at its Gulf S&P PLATTS first appraisal well drilled in the Sakarya gas

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