Turkish firm finds oil in southeastern well

ISTANBUL – Hürriyet Daily News

A Turkish firm, İpek Doğal Enerji, has found oil at a field in the southeastern province of Batman. AA photo

A Turkish firm, İpek Doğal Enerji, has found oil at a field in the southeastern province of Batman.

The company has explored onshore reserves at the 2,820-meter-deep İpek-1/K well, it told the Public Disclosure Platform (KAP) Sept.2.

The statement said the firm had completed the exploration in the first targeted zone and that the well was of a high-pressure artesian type, something that is very rare in Turkey.

The production and reserve amount studies will be launched immediately after reaching the second zone, which is around 2,900 meters deep, the firm added.

The company’s shares rose by a sharp 10.42 percent after news of the discovery was reported.