Trillion Energy starts work programme at SASB gas field

Canada's Trillion Energy has commenced its work programme at the SASB gas field located offshore Turkey, the company announced on May 23. The programme will be executed in several phases and involves the development of seven or eight wells in the field. This includes all six wells drilled and completed last year, along with a few older wells that have historically experienced water loading issues.

In mid-June 2024, operations will focus on perforating 49 meters of gas pay across four wells. This will be followed by the initial installation of a velocity string in the AKK-3 well. The installation of gas velocity strings is a key aspect of this work programme, as they are expected to enhance well performance and stabilize long-term production.

The June operations will take place on the Akcakoca platform and will include the Guluc-2, South Akcakoca-2, West Akcakoca-1, and Akcakoca-3 wells. This phase is expected to take approximately 20 days.

The second phase of operations will commence in July and involves the installation of gas velocity strings in six or more wells on the Akcakoca Platform and two tripods. Additionally, pumps will be installed in one or more older wells, which were not part of Trillion’s 2022-2023 drilling program, as needed.

Trillion Energy also intends to complete a private placement of up to 15mn common shares at a price of $0.09 per unit, for aggregate gross proceeds of up to C$1.35mn.

The company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest-scale natural gas development projects. In December 2023, announced the completion of its 3D seismic reprocessing for the SASB gas field.