Middle East Economic Survey

VOL. XLVIII

No 31

1-August-2005

TURKEY

Antares Energy Says Thrace Gas Well Commercial

Australias Antares Energy on 25 July reported that the Velimese-2 exploration well in Turkeys onshore Thrace Basin flowed gas at a rate of 2.2mn cfd with a final-shut in pressure of 1,640psi. Antares announced the gas discovery on 20 July, saying the well would now be suspended as a future gas producer. With selling prices in excess of $5 per 1,000 cu ft, this is clearly a commercial...