Page 12 - MEOG Week 15 2021

MEOG PROJECTS & COMPANIES MEOG

UK Oil & Gas gets

“speedy” Turkey consent

to drill Basur-3 well

TURKEY UKOG Turkey and Aladdin Middle East have of the Basur-Resan Mardin oil pool, assessed as
been granted formal consent by Turkey’s energy containing “potentially transformational” dis-
and natural resources ministry to drill the covered recoverable oil resources.
Basur-3 appraisal well on the Resan licence, par- “The speedy grant of drilling consent from
ent company UK Oil & Gas has announced. Its the Turkish government further illustrates how
CEO said the consent process proved “speedy”. oil and gas projects can be pushed ahead more
The AIM-listed company’s 100%-owned sub- rapidly and with more certainty in Turkey than
sidiary UKOG Turkey has a 50% interest in the in the UK onshore—a key enabler for value
licence. It includes the “potentially significant” creation and preservation,” said chief executive
Basur-Resan oil discovery, ShareCast noted. officer Stephen Sanderson.
The consent requires the ministry to be noti- Basur-3 is located within the Taurus-Za-
fied five days prior to the actual spud date of gros Fold Belt, a 2,000-km long zone or chain of
Basur-3. folded and faulted rocks, formed by the collision
Drilling pad and access road construction between the Arabian, Eurasian, Anatolian and
works were continuing at “good pace”, the UK Iranian tectonic plates.
Oil & Gas board said. Completion was expected The folds are elongated and align parallel to
by the end of May. the Arabian plate boundary. They are major geo-
UK Oil & Gas added that Basur-3 is the “first logical features where oil and gas are found in
key step” towards securing the commerciality Turkey, Iraq and Iran.™

P12 www. NEWSBASE .com Week 15 14•April•2021