The Turks are preparing for the exploitation in 2024 of the gas field that was located in August 2020 in the Black Sea region, while the preliminary research they have done in both the region and the Black Sea show that in the next decade they will be ahead and in other discoveries.
Eastern Thrace
Valeura Energy, an oil and gas company operating in the Eastern Thrace Basin, announced just yesterday, presenting the financial results of the last quarter, that it intends to proceed with the further development of its deposits in the region. The three exploration licenses it holds are valid until June 27, 2022 and, under the terms of the Turkish license, the company has the ability to retain these assets for up to five more years through work program commitments.
Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.