14 API oil in Cretaceous age Mardin Group carbonate was discovered in Altınakar-1 in 2011, and 473 bbl oil was produced. Altınakar-1 was then deepened to Bedinan sandstone reservoir (B4) in 2012 and 41 API oil was discovered. The Altınakar field is on the same trend as the other major Bedinan oil fields to the East, i.e., Şükürlü, Kılavuztepe, Arpatepe, Çalıktepe oil fields.

In 2020, three exploration wells were drilled to the B4 sandstones (Sand-1 and Sand-2); Altınakar-2 (TD: 2,291m), Altınakar-3 (TD: 2,312m), and Altınakar-4 (TD: 2,297m). Sand-2 was completed in Altınakar-2 and Altınakar-3 wells and put both on production with 600 bopd initial rates in natural flow. In Altınakar-4, Sand-2 was wet, and therefore Sand-1 was completed and put on production with a 10 bopd initial rate. As of end-2022, the oil production from these three wells was 235 bopd.

Altınakar-5 well (2022) was drilled to Bedinan sandstones as a step-out well 2 km to the East of Altınakar-2. It reached a TD of 2,302m without any significant oil shows. The well was temporarily abandoned due to technical reasons.

In 2022, 114 km of new 2D seismic data was acquired to improve structural interpretation of the basement faults within the lease area. Several new prospective areas and leads have been identified in separate basement fault blocks. The JV partners are planning to drill at least one new exploration well to test the oil accumulation in the Bedinan sandstones in a separate fault block.

Başaklı-1 (2014) is located 7 km to the North of Altınakar field. It targeted Mardin Group carbonates as a primary reservoir. After discovering 21 API oil in Mardin and producing 39,000 bbl cumulative oil until 2019, the well was deepened to Bedinan sandstones without any significant oil shows.

Karalar structure is 950m West of the new Paleozoic oil discovery well, Basalan Bedinan-1 with 150-200bopd artesian flow production.

Karalar-1 was spudded in November 2023.  It had drilling issues in the main borehole. It is side-tracked in December 2023. The side-tracked Karalar-1S well also had drilling issues and P&A’d. The Karalar-1K, a new wellbore with a larger size casing design, was spudded on 27 February 2024. It is planned to test the hydrocarbon potential of Ordovician age Bedinan Formation sandstones up-dip from the Basalan Bedinan-1 well.

Batı Altinakar-1 was spudded in January 2024 and TD’d at 2345m in Bedinan Formation to test its sandstone reservoirs. Batı Altinakar-1 is 2.5km West of the Altinakar oil field and 5km East of the Şükürlü oil field.

Dadaş “hot shales” are the main source rock of the Paleozoic petroleum system. The Altinakar-Başaklı lease is favorably situated within the “sweet spot” of the oil-prone Dadaş resource play area, and this should be considered an important upside for planning future exploration activities.