Bafra Licence | Merty Energy

Bafra Licence


Context and Introduction

Merty Energy, acquired two high potential licences named as  Bafra Licenses (AR/MER/4357 and AR/MER/4358). on the onshore Black Sea basin near the city of Sinop

Onshore well  BADUT-1 had been drilled and completed with very high  gas shows in 1966 in the times gas had no economical value in the market.

Later through years Bafra-1 well was drilled  and ended up with oil shows in the depth of 2250-2600 m. 325 kms 2D seismic data were carried out at that field to investigate the deeper structures  to specify the possible well sites.


Current Status

The existing data both geological and geophysical had been reprocessed  and new  exploration programme has been planned.

Batı Badut-1  will be spudded by may 2012 and further  seismic programme will be started for the detailed definition of the leads and the prospects.

Considering previous works on the field, Bafra licenses are thought to be important for relatively shallow gas and deeper oil plays.



Expected High Quality Crude ranging between 30-45API
No sulfur or sourness
Shallow reservoir for gas (1300-1800 m.), deeper for oil (2000-2750)
High porosity (9-29%) and permeability (0.16-21.82md)
Expected reserves 39.14 MM bbl ROIP
Avaliable 325 km 2D seismic data
GORE™ Survey exploration with 193+30(model) modules approx 16 km2
Ready Sales contract for gas and oil.
Brent referenced pricing mechanism
Quick PB period and high NPV



Merty Energy was first awarded the Bafra Licenses on 13/03/2008 and  holds 100% of the licenses (total 97,535 hectare). Bafra licences are located in the northern Black Sea coast of Turkey  on the Kızılırmak delta basin.

Integration of the geological, geophysical and geochemical studies revealed that Kusuri Formation of Middle-Upper Miocene age possesses required  specialities for being as reservoir and source rock.

The offshore wells drilled in Akçakoca area  prove that Kusuri Formation and Oligo-Miocene deltaic sediments  are capable of producing hydrocarbons as natural gas  and also oil.

Badut-1 and Bafra-1 wells drilled in the area have gas and oil shows respectively.

2012 work program includes 325 kms of 2D seismic,



Turkey has attractive fiscal terms, under a tax royalty system, with a gross royalty of 12.5 percent and corporate tax rate of 20 percent. Each license has a term for four years and is renewable twice for a period of two years per renewal. Exploitation licenses are granted for a period of 20 years, and may be extended twice, each extension maximised to 10 years.

Refineries are obliged to purchase any locally produce crude oil at the world market price as per the Law. Current prevailing selling price of 37API crude is averaging 2-3% lower than benchmark IPE Brent price.

Onthe other hand the natural gas sales  are regulated  by EMRA (energy market regulatory authority) within the context of Gas market law  and the petroleum law  giving the local production the priority.

The gas prices developed in the market freeley within the context of competition within the gas wholesales companies and the distribution companies as well as the big consumers which the gas producer has the right to choose  to sell from.

There are several mechanisms where the sale price of gas  is determined by.

a.A small percentage discount from the local state price (380-410 USD per 1000 sm3)
b.5-10% discount from Brent defined price
c.Or mechanisms that  companies create within the similar context.


The Black Sea is an extentional basin surrounded by compressive belts such as the Pontides,Caucasus and the Yayla Range in the Crimea.

Western Black Sea basin is believed to have opened during the early Cretaceous.

The Mesozoic  begins with Triassic rifting and the deposition of non-marine sediments in half grabens.

The mid-Jurassic to E. Cretaceous sequence begins with shallow marine clastics and  dominated by development of an extensive carbonate platform which includes widespread shallow water grainstone.

Post rift sedimentation started with a pelagic drape of Early to Mid-Eocene which was subsequently on lapped by Late Eocene and younger sediments.

The sandstones porosity is on the range of %15-25 in the Kusuri Formation, Akveren Limestones of Upper Maastrichtian porosity %10-15 and Gürsökü Formation of Lower Maastrichtian porosity %10-20. The shales in the Kusuri Formation of Middle-Upper Eocene age indicate fair-good source rock potential, organic matter type is described as Type III and Type II kerogen which are capable of primarly producing gas secondly oil.

The overlying deltaic sedimentation in Oligo-Miocene has reservoir and source potential  in several zones. Badut-1 tested big quantities of gas in these units.


Initial Results

There are three main prospection works on the field;

1)Alaçam Prospect

Reservoir Type : Limestone (Akveren Formation)
Porosity : % 9 – 29.48
Permeability : 0.16-21.82 md
Area : 3.85 km2 (P90)
2) Yağmurca Prospect Reservoir Type : Limestone (Akveren Formation)
Porosity : % 9 – 29.48
Permeability : 0.16-21.82 md
Area : 2.25 km2 (P90)


3) Doğankaya Prospect
Reservoir Type : Limestone (Akveren Formation)
Porosity : % 9 – 29.48
Permeability : 0.16-21.82 md
Area : 1.40 km2 (P90)

Based on this background knowledge, and detailed evaluation of existing geological and geophysical data new drill sites will take place to appraise the hydrocarbon discovery in the field and increase the proven reserves.