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TURKISH PETROLEUM 2019 ANNUAL REPORT 2019 ANNUAL REPORT TURKISH PETROLEUM - www.tpao.gov.tr deep- rooted advanced past technology We have been working continuously with a faith that makes this geography our homeland for centuries with 65 years' experience. Beyond being a national asset, we conduct innovative actions using the latest technologies. We blend our faith and experience with technology, and get stronger with courage that we take from our roots. “We get strength from civilisation, wisdom and science and march accordingly.” table of contents » Who We Are 8 TPAO at a Glance 12 History 14 Strategies 15 Vision, Mission and Values 16 Board of Directors 16 Organization Chart 18 Message from General Manager 20 Offshore Operations » TPAO in Turkey 28 Oil & Gas Exploration 34 Oil & Gas Production 36 Health, Safety and Environment » National and Domestic Technology 40 R&D Centre 46 Supply and Logistics » TPAO Outside Turkey 50 International Projects » Corporate 54 Human Resources 56 Finance 60 Contact Us we produce vigorously We keep leaving a trace for our country, and we are proud of having laid the foundations of 17 big organisations which are accomplished to become great values of our country within more than a half century. Number of Wells Drilled Reserve Added with Drilling in 2019 Exploration in 2019 Legal Duties Paid in 2019 Who We Are 120 Million30 BOE Number of Employees 232,700Meters TPAO at a glance 3,686 2.5Billion TRY Countries outside Turkey Daily Production 5 Azerbaijan Thousand131 BOE Iraq Afghanistan Russia TRNC Established in 1954 Profit (Loss) of the period Drillship Turkish Petroleum Capital Yavuz Billion1.2 TRY Drillship 5.2Billion TRY Annual Report 2019 Drillship Fatih Kanuni 08 09 Finance 2019 unit Sales Revenues 929 million US dollars Current Assets 506 million US dollars Fixed Assets 5,230 million US dollars Equities 3,181 million US dollars International Investment Short Term Liabilities 585 million US dollars Long Term Liabilities 1,970 million US dollars $ Current Ratio 0.87 rate Cash Ratio 0.23 rate Million 854 Financial Leverage Ratio 0.45 rate Domestic Investment Seismic Activities 2019 unit 2D Offshore 3,164 km $ 2D Onshore 517 km 3D Offshore 10,005 km² Million 815 3D Onshore 1,141 km² Drilling Activities 2019 unit Length in Meters 232,700 meter wells Number of Wells 120 Turkish Petroleum Production Activities 2019 unit Domestic 17.1 million BOE International 30.8 million BOE Annual Report 2019 Total 47.9 million BOE 10 11 history 2018 First unconventional well drilling: Gözalan-1 First1970 natural gas was discovered Our first deep sea Hamitabat 2001 drilling started with 1993 Project SCP 2011 our national drillship 1963 Our corporation 1986 We are in We are in Turkish Republic of Fatih, Alanya-1 Turkish Petroleum started Kırıkkale Refinery Azerbaijan Northern Cyprus Service Stations its first offshore was established were established The second Turkish deep-sea exploration, Payas-1 We are in drillship Yavuz was purchased Kazakhstan 1966 1974 2014 İPRAGAZ was BOTAŞ was We are in established established Russian A corporation1988 for Federation 1960 Silivri2007 Natural Gas İzmit Refinery international activities Storage Facilities was established was established 1954 TPAO 2019 was established 8 offshore drillings were performed (3 shallow, 5 deep) First1958 oil discovery: Petrochemistry1965 First economic2004 offshore Germik-1 facilities were gas discovery in established 1971 Black Sea: Ayazlı-1 2012 First oil discovery 1991 We are in in Adıyaman, Domestic Production Afghanistan Adıyaman - 2 Record of 50 years: 2017 Discovery of Karakuş oil The first Turkish 1985 field deep-sea drillship TPAO ranked 63th among The Seismic Ship Barbaros The biggest1961 reserve Baku Tbilisi1999 Ceyhan Project Fatih was purchased the 500 biggest companies Hayreddin Paşa was of Turkey: Batı Raman Turkish Petroleum of the world purchased Field Opening 1967of the first pipeline (Batman-Dörtyol, İskenderun) Oil discovery2010 in Libya İzmir - Aliağa Refinery was established We are in Iraq Annual Report 2019 12 13 strategies We determined our road map and core strategies in accordance with the “National Energy and Mining Policy” of the Ministry of Energy and Natural Resources. FOCUSING ON OFFSHORE EXPLORATION WITH PRIORITISING THE UTILISATION OF NATIONAL AND NATIONAL CAPACITIES DOMESTIC TECHNOLOGY • National operation capacity with the deep-sea drill • Integrating technology and artificial intelligence to all vision ships processes To be a competitive and dynamic national • Nationalisation of offshore drilling technologies and • Nationalising value-added products and services E&P company, aspiring to meet the oil and services • Enabling improvements for domestic suppliers and gas demand of our country. • Seismic data gathering and drilling in the supporting them Mediterranean Sea, Black Sea and Marmara Sea • Prioritising national industry for the machines, DEVELOPING NEW EXPLORATION AXES AND equipment and software utilised APPROACHES ESTABLISHING LEAN AND • Focusing on the regions which have not been MODERN MANAGEMENT MENTALITY mission Conducting domestic and international explored enough • Centralising all procurement processes exploration and production activities to increase • Evaluating the current fields with new approaches • Improving the efficiency with a simple organisational • Developing and nationalising seismic data- structure the oil and gas production of our country. processing capacity • Establishing constant cost improvement culture DEVELOPING THE INTERNATIONAL PROJECT PORTFOLIO DEVELOPING A TRANSPARENT AND ACCOUNTABLE • The production target is 200 thousand barrels per SYSTEM INFRASTRUCTURE day from international projects by 2023. • State-of-the-art corporate resource planning values • Seizing suitable opportunities in the near countries applications • Respect • Developing the existence in the current projects • Active use of the corporate risk and quality • Courage USING NEW PRODUCTION METHODS management systems • Increasing productivity with fracking the tight • Periodic follow-up of the corporate strategies and • Determination reservoirs objectives Turkish Petroleum • Common use of downhole heaters • Making all technical data accessible from a single • Professionalism platform • Water and carbon dioxide injection • Egalite HAVING A SMART AND LEARNING ORGANISATION • Polymer gel and acid applications • Cross Training, Executive Training Programs INCREASING PRODUCTION WITH UNCONVENTIONAL ACTIVITIES • Web-Based Training Platform • Synchronic fracking operations in Thrace and CARRYING OUT AN OPERATION SENSITIVE TO OCCUPATIONAL HEALTH, SAFETY AND ENVIRONMENT South-Eastern Anatolian Regions Annual Report 2019 • Complying with international quality standards in • Explore and Produce unconventional hydrocarbon terms of occupational health and safety potential of Turkey • Environmentally and nature conscious, uncompromising operation applications 14 15 board of directors and Organization Chart VICE PRESIDENT Abdurrahman TİRYAKİ MELİH HAN BİLGİN CHAIRMAN Production ALPARSLAN BAYRAKTAR MEMBER Engineering EDİP MÜYESSEROĞLU MEMBER Health, Safety and Environment MEHMET FERRUH AKALIN MEMBER Support Services Supply and Logistics Accounting and Finance CEO/GENERAL MANAGER Melih Han BİLGİN Offshore Operations Strategy Development Batman, Adıyaman and Trakya Regional Offices Human Resources Inspection Board VICE PRESIDENT Internal Auditing Mehmet Ferruh AKALIN Legal Consultancy Exploration International Projects and Business Development R&D Centre Bureau of the Board Information Technologies Turkish Petroleum Private Secretary Corporate Communications Security Annual Report 2019 16 17 Offshore drillings and seismic exploration activities that we carried stakeholders for construction of Dörtyol-Ceyhan pipeline in out in 2019 concretely put forward our high expectations and order for facilitate crude oil that we produce in South-eastern message ambition in this field. 5 deep-sea drillings with national drill ships Anatolia region to get into international markets is still ongoing. were completed cost-effectively as planned. 3 shallow-sea wells Necessary work is also carried out multilaterally in order to from general were drilled by our contractors. On the other hand, seismic data was develop infrastructure and surface facilities in compliance with collected simultaneously in the Mediterranean Sea, Marmara Sea production levels that we aspire and plan for our country. and Black Sea, and it marked another important historical record. We are aware of the fact that facilitation and acceleration of manager With the awareness that possible successful results that can be access to information within the framework of “need-to-know” achieved in offshore drillings are significant for both our corporation To supply oil and natural gas consumed by our fast principle will let us reach new discoveries by paving the way and our country to attain 2023 goals, drilling and seismic activities growing and developing country from domestic resources for different perspectives. In this respect, Digital TPAO project in accordance with our offshore business plans will continue in the increasingly is the main goal of TPAO as the national oil was commenced in 2019, and all data collected in onshore and guidance of science and without slowing down. company of Turkey. offshores were transferred to the relevant platform. Within the framework of our strategy for onshore, we focused on Activities that we carried out in 2019 provided historical Quality
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