Page 10 - MEOG Week 22

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Istanbul’s haydarpaşa Port for a drilling mission in the Black Sea.
The minister said that Fatih’s 103-metre long towers were disassembled in haydarpaşa port to enable the vessel to have safe passage under the bridges through the Bosphorus and is projected to reach Trabzon in northeastern Turkey on June 1 to be reassembled.
“After completing [its] nearly 1.5 months’ preparation period, Fatih will start its first drill- ing in the Black Sea in the Tuna-1 location in mid-July,” Dönmez said.
Turkey will continue to carry on offshore exploration studies which are vital for the coun- try’s energy independence, he added.
“Yavuz continues its operations in Selçuklu-1 location in the Mediterranean Sea, which marks the 7th deep drilling activity that is conducted in the area. Barbaros hayrettin Paşa and Oruç Reis seismic vessels are also exploring our seas,” he said.
In May 2019, Turkish-flagged drillships began offshore drilling operations in areas off the coast of Cyprus. The areas fall entirely within the Turkish continental shelf registered with the U.N. and in permit licenses that the Turkish government in previous years granted to Turkish Petroleum.
Ankara has on every occasion vowed it wants to see energy as an incentive for political resolution on the island and peace in the wider Mediterranean basin, not a catalyst for further
tensions.
Turkey is a guarantor nation for the TRNC
and has consistently contested the Greek Cypriot administration’s unilateral drilling in the Eastern Mediterranean, asserting that the TRNC also has rights to the resources in the area.
Turkey’s third drillship, Kanuni, arrived in Taşucu, Mersin, a coastal city in the Mediterra- nean region of the country on March 15.
Following the completion of renewal and upgrade studies, Kanuni, which joined the fleet at the beginning of 2020, is also projected to start operations in the Mediterranean Sea this year, according to Donmez.
The country plans to conduct five drills in the Eastern Mediterranean this year, according to Turkey’s Annual Presidential Program for 2020.
“Our two seismic and two drilling vessels will continue to work in the Eastern Mediterranean at full capacity. With Fatih’s sail to the Black Sea, we now bridged the most important gap,” the energy minister said.
In 1974, following a coup aimed at the annex- ation of Cyprus by Greece, Ankara was forced to intervene as a guarantor power on the island. In 1983, the TRNC was founded.
The decades since have seen several attempts to resolve the Cyprus dispute, all ending in fail- ure. The latest, held with the participation of the guarantor countries – Turkey, Greece and the U.K. – came to an end without any progress in 2017 in Switzerland.™
ProJeCts & ComPanIes
ADNOC to cut July crude by 5%
Uae
STATE-RUN Abu Dhabi National Oil Company (ADNOC) has informed customers of a cut in its crude oil nominations for July in line with a deci- sion by OPEC+ last month to reduce supplies, three sources with knowledge of the matter have told Reuters.
Nominations for all crude grades - Murban, Upper Zakum, Das and Umm Lulu - will be cut by 5% for all term lifters in July, the sources said, citing a letter to buyers dated May 28.
OPEC and allies led by Russia, a group known as OPEC+, agreed in April to a new supply pact from May 1 to shore up the market following a slide in demand caused by lockdowns to contain the new coronavirus.
OPEC+ plans to reduce output by a record 9.7 million barrels per day for May and June.
For May, ADNOC reduced the supply of its Murban and Upper Zakum crude by 15% and reduced the supply of its Umm Lulu and Das crude by 5%.
For June, ADNOC has told buyers of a cut of 20% in both Murban and Upper Zakum crude grades and a 5% cut in Das and Umm Lulu crude grades.™
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Week 22 03•May•2020