Tuesday, February 19, 2013

Energy Contract for Ship Management Company in New Territory

Turkey Dips Its Toe in Oily Waters
Shipping News Feature

TURKEY – UAE – Ship management company, V Ships Turkey recently announced that it has agreed an offshore crewing contract with Polarcus, a marine geophysical company with principal office in Dubai, United Arab Emirates. Polarcus has a long-term collaboration arrangement with the Turkish Petroleum Corporation (TPAO) and last month the company sold and delivered the Polarcus SAMUR, an 8-streamer 3D world class seismic exploration vessel, to TPAO. The vessel will be renamed Barbaros Hayreddin Pasa after the legendary Ottoman Admiral, and Polarcus will provide technical and crew management services to TPAO.

V. Ships will support Polarcus through the provision of expert and experienced Turkish maritime crew to meet the flag requirements of the Turkish International Ship Registry under which the Barbaros Hayreddin Pasa will be flagged. Harun Duzgoren, Managing Director of V Ships Turkey, said:

“We are very excited to be part of this important initiative, which confirms Turkey’s position as a new and emerging oil & gas market in the world. As V Ships’ regional office, we possess the necessary skill set and the experience to deliver on quality for our offshore clients like Polarcus.

“This is our fourth back to back offshore marine services contract in the last three years and we strongly believe that success is a direct result of our dedication to quality and value. The vast majority of our crew have been with us in other similar projects in the Black Sea and other parts of the world as well, so we are confident that they will integrate quickly with the Polarcus crew onboard.”

Photo: There are several potential unconventional reservoirs in different basins located in different geographical regions of Turkey. Domestic oil production is obtained from the SE Anatolia, the Asian part of Turkey and the gas production is from the Thrace Basin, European part of the country. All other internal basins are still unexplored basins. Although source rocks in those basins have very high hydrocarbon generation potential, more than 90% of the oil and gas demands are provided from the neighbouring countries. Unconventional production techniques may be the future supply for Turkey, itself a great energy market.