Toreador starts Dogu Ayazli production

Toreador Resources Corporation, independent international energy company provided an update on operations and disclosed the preliminary development plan for the second phase of the South Akcakoca Sub-basin (SASB) natural gas project in the Black Sea offshore Turkey. Toreador has a 36.75% interest in the SASB project. TPAO (the Turkish national oil company) has a 51% interest and is the operator. The remaining 12.25% is held by Stratic Energy.

The operator, TPAO, has reported that the Dogu Ayazli platform in the SASB has been reconnected to the pipeline and that initial gas production has begun from the Dogu Ayazli-1 and -2 wells. Over the next week, the operator will be adjusting choke sizes on the Dogu Ayazli and Akkaya platforms to optimize production and a stable system flow rate should be established next week. The combined production from the Akkaya platform, which was put on production at the end of May, and the Dogu Ayazli platform is expected to be approximately 35 MMCFD gross from five wells.

The deck for the Ayazli platform has been completed and towed onto location in the SASB project area for installation. The lift barge is on location and preparations are underway for lifting the deck onto the tripod. Two pre-drilled wells in the Ayazli Field have been completed and are ready for tie-back operations once the deck is installed. Production can start as soon as commissioning activities are complete. Initial production from the Ayazli platform is estimated to be 15 MMCFD to the 100% interest, at which point full production from the SASB is anticipated to reach 50 MMCFD.