Turkish Forum

Tag: Calik

  • Anatolia completes drilling operations on the Sinan Licence in Turkey (Scandinavian Oil-Gas Magazine)

    Anatolia completes drilling operations on the Sinan Licence in Turkey (Scandinavian Oil-Gas Magazine)

    Anatolia Energy Corp. reports that Giremir-1, the initial exploration well on the Sinan Licence in Turkey, has completed drilling operations at a total depth of 1,250 metres. The well was drilled ahead of schedule and on budget at an estimated cost of US$1.4 million. The well penetrated the Upper Sinan Formation at a depth of 1,066 metres.

    6-1007Giremir-1 satisfies the drilling commitment on the Sinan Licence pursuant to the Company’s Joint Venture agreement with Calik and as required by the General Directorate of Petroleum Affairs (‘GDPA’), Turkey’s energy regulatory body. While no hydrocarbon shows were encountered during drilling or logging, Giremir-1 satisfies the work commitment of the Sinan Licence and also satisfies the district drilling obligation which includes the Bismil Licences.

    Satisfying the drilling commitment and retaining the acreage was a key management priority given the value believed to be held in the Sinan and Bismil Licences, which encompass 17,833 (8,917 net) and 245,699 gross (122,850 net) acres, respectively. The Licences are well-located within the Dadas Shale Oil trend as well as the Cretaceous and Ordovician conventional oil plays. Giremir-1 provides Anatolia with a cost-effective way of advancing the regional strategy for shale oil development in what management believes to be a world class shale oil resource.

    Tags: Anatolia Energy Corp.

    via Anatolia completes drilling operations on the Sinan Licence in Turkey (Scandinavian Oil-Gas Magazine).

  • Time Warner, KKR, TPG Said to Be in Talks to Buy Calik Media

    Time Warner, KKR, TPG Said to Be in Talks to Buy Calik Media

    TPG Capital, KKR & Co LP (KKR) and Time Warner Inc. (TWX) are in talks to buy media assets from Turkey’s Calik Holding AS, which include Sabah newspaper and ATV television, four people familiar with the situation said.

    Calik Holding, the Istanbul-based group with interests in energy, construction, finance and telecommunications, hired Goldman Sachs Group Inc. (GS) to advise on the sale, said the people, who declined to be identified because the talks are private.

    Calik Holding, with sales of $2 billion in 2010, paid the government $1.25 billion for Turkey’s second-biggest media group after winning loans from state-run banks and its Qatari partner in 2008. The company is managed by Prime Minister Recep Tayyip Erdogan’s son-in-law, Berat Albayrak.

    Calik bought Sabah and ATV when the assets were put up for sale after they were seized by Turkish regulators from a previous owner. Calik was the only bidder in the auction for Sabah and ATV after RTL Group SA, Europe’s biggest broadcaster, had abandoned plans to submit a joint bid with two Turkish partners. Rupert Murdoch’s News Corp. also pulled out.

    Gavin Davis, a spokesman for TPG at public relations agency Pelham Bell Pottinger, said TPG declined to comment. Serhat Albayrak, deputy chairman at Turkuvaz Media Group, Calik Holding’s unit that owns Sabah newspaper and ATV channels, didn’t reply to e-mailed questions from Bloomberg seeking comment. “KKR does not comment on market speculation,” Edward Simpkins, a spokesman for KKR at public relations company Finsbury Ltd. in London, said in an e-mailed statement. Time Warner’s chief in Turkey, Efe Onbilgin, didn’t respond to calls to his cell phone seeking comment.

    To contact the reporter on this story: Ercan Ersoy in Istanbul at [email protected]

    To contact the editor responsible for this story: Benedikt Kammel at [email protected]

    via Time Warner, KKR, TPG Said to Be in Talks to Buy Calik Media – Bloomberg.

  • Armenian businessmen to meet Çalık chairman

    Armenian businessmen to meet Çalık chairman

    VERCİHAN ZİFLİOĞLU

    Twenty-six Armenian businesspeople from the United States are scheduled to meet today with Istanbul Mayor Kadir Topbaş and Ahmet Çalık, chairman of Turkey’s Çalık Holding, to discuss business opportunities.

    Archbishop Viken Ayvazian and Archbishop Khadjak Barsamyan, two Armenian-American religious leaders, are to lead the group during the Istanbul visit. The businessmen were joining a larger group that attended the recent reopening ceremony of an Armenian church in the southeastern province of Diyarbakır.

    “Most of these businessmen are visiting Turkey for the first time,” said Oscar Tatosian, who spoke to the Hürriyet Daily News on behalf of the group.

    Commenting on the upcoming meeting with the Çalık Holding head, Tatosian said it was very important in terms of dialogue. “Our people should come together and enjoy a cup of tea,” he said. “The dialogue starts with arts, culture, academic cooperation and trade. The rest will follow.”

    Tatosian owns the New York-based Oscar Isbenan Rug Company, a business started by Tatosian’s grandfather in the Central Anatolian province of Sivas that continues to produce rugs with Anatolian patterns.

    “My grandmother used to tell me a lot about the importance of neighborhood,” he said. “Aren’t Armenia and Turkey two neighboring countries?”

    The Armenian community abroad is wrongly considered a homogenous one by Turkish people, Tatosian said, adding that many wanted a good relationship with the Turks.

    via Armenian businessmen to meet Çalık chairman – Hurriyet Daily News.

  • Calik sees 2011 sales over $3 billion-INTERVIEW-UPDATE 1

    Calik sees 2011 sales over $3 billion-INTERVIEW-UPDATE 1

    CALIK/ (INTERVIEW, UPDATE 1)

    * 2010 sales to jump 50 percent to $2.2 billion

    * Targeting growth in energy, mining, telecoms

    (Adds quotes, detail, background)

    By Asli Kandemir

    ISTANBUL, Nov 9 (Reuters) – Turkish energy-to-media conglomerate Calik Holding expects strong growth to continue into next year when sales should top $3 billion as it targets expansion in energy, mining and telecommunications.

    The unlisted group, whose growth was powered in the first half by the energy, banking and media sectors, also expected sales this year to surge 50 percent to $2.2 billion, chief executive Berat Albayrak told Reuters in an interview.

    He said Calik was assessing offers from foreign groups for partnerships in its banking activities, Banka Kombetare Tregtare (BTK) in Albania and Aktifbank in Turkey.

    Calik, which took over the ATV-Sabah media group in 2008 and has around 20,000 employees in 14 countries, expected consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) this year to jump more than 25 percent to around $250 million.

    “We aim to grow in the energy, mining and telecom sectors, while strengthening our presence in the finance, construction, textile and media sectors,” he said of 2011. “In the energy sector our goal is to focus on electricity production and distribution trade, oil exploration, oil trade and refining.”

    The company’s partnership plan for a refinery plant at Ceyhan on the eastern Mediterranean would become clear in the first quarter, he said.

    Calik’s Energy unit is, along with Italian group ENI, building a 555-kilometre trans-Anatolian pipeline to take oil to the Mediterranean from the Black Sea and which will initially carry one million barrels of crude oil a day.

    The group will take over the Yesilirmak power distribution network in northern Turkey at the end of this year after winning a tender with a $441.5 million bid a year ago.

    Albayrak said the company had also sought prequalification for power grid tenders on the Asian side of Istanbul, the Mediterranean and Toroslar regions. These tenders will be held on Nov. 24.

    He said the company could consider public offerings for companies in one or two strategic sectors after 2012. (Reporting by Asli Kandemir; Writing by Daren Butler; Editing by Dan Lalor)

    via Calik sees 2011 sales over $3 billion-INTERVIEW-UPDATE 1.