Trillion Energy International has released a significant update and progress report on its ongoing project at the SASB gas field in the Turkish sector of the Black Sea.
In September 2023, Trillion announced the completion of five new wells and one recompletion for the work program ending August 2023 as part of the SASB project. In the latest update, Trillion has said that there has now been a delay of three months in the project because they are waiting for some equipment, specifically pumps, and need to modify the well heads to install them.
Trillion Energy has ordered the necessary equipment, and the first deliveries are expected in February 2024. To deal with an issue related to water in the wells, Trillion sought help from the engineering firm, GLJ in November 2023. GLJ provided a detailed report in December 2023 with practical suggestions on how to use artificial lifts to address the problem. Trillion is taking action by ordering pumps, wellheads, new tubing, and other necessary items based on the recommendations in the report.
Thus, Trillion’s issued production guidance remains steadfast at 7,547 mcf/d before royalties (15.4 MMCF/d 100% Gross interest to lease) for the initial six wells for the 2024 year, with the program execution occurring over the next few months, starting with the four Akcakoca platform wells in Q1 and then the two tripod wells in early Q2.
The company plans to install pumps in two or three more existing wells by the second quarter, bringing the total number of producing wells to eight or more. Originally included in the sidetrack program, two of these additional wells are now designated as recompletions instead of new sidetrack drilling to reduce costs. The production from these wells is separate from the six wells mentioned earlier and is not considered in the production estimates provided above.
Trillion Energy International Inc., based in Vancouver, concentrates on oil and natural gas production, particularly in Europe and Turkey, where it holds natural gas assets. The company owns a 49% stake in the SASB natural gas field, a significant project in the Black Sea, and has a 19.6% interest (excluding three wells with 9.8%) in the Cendere oil field. Additionally, Trillion Energy holds a 50% interest in three oil exploration blocks in Southeast Turkey.
The SASB gas field, located in the Southwestern Black Sea, is a conventional gas field comprised of multiple natural gas pools situated in shallow waters. Since its initial development in 2007, the field has contributed over 1.21 billion cubic metres of natural gas. The infrastructure investment for production platforms, pipelines, initial wells, and gas processing facilities totalled more than USD 600 million, with Trillion Energy International holding a 100% interest in the project.
