- Company has strategic plans in place to become key energy producer for Europe.
- Trillion Energy is developing the South Akçakoca Sub-Basin (“SASB”) Project, located in the Black Sea.
- Trillion’s strategy also includes three additional upcoming programs.
Following the global pandemic and Russia’s invasion of Ukraine, Europe was plunged into an energy crisis. While the urgency of the situation has been somewhat alleviated, the energy situation in the area is still precarious, and Trillion Energy International (CSE: TCF) (OTCQB: TRLEF), a company focused on oil and natural gas production for Europe and Türkiye, has a strategic four-program plan in place to become a key energy producer for the area.
“From mid-2021 until late 2022, Europe and parts of Asia were gripped by an energy crisis, as oil, gas, coal and power prices surged, in some cases to record highs, forcing households and firms to cut use rapidly,” reported Reuters (https://nnw.fm/m1Qk4). “Russia’s invasion of Ukraine and sanctions imposed in response by the U.S. and its allies disrupted energy supplies that were already stretched by the rebound in industrial production after the coronavirus epidemic.”
Some 18-24 months later, the acute phase of the adjustment has been completed, the article noted, although “there will undoubtedly be more shocks in future. . . . Europe’s residual issue is that it has swapped relatively cheap Russian pipeline gas for relatively expensive LNG, putting its industrial competitiveness at risk.”
An international oil and gas producer focused on the exploration, production and distribution of oil and natural gas in Türkiye and Europe, Trillion Energy is working to alleviate that risk, implementing a long-term plan designed to provide oil and natural gas at more affordable prices. The company utilizes cutting-edge technology and innovative practices while maintaining a commitment to sustainable and responsible operations.
Currently, Trillion Energy is developing the South Akçakoca Sub-Basin (“SASB”) Project, located in the Black Sea and consisting of numerous conventional natural gas pools located in shallow water. “The [SASB] fields have produced over 43+ BCF since initial development in 2007,” the company reported (https://nnw.fm/MTPjd). “Production platforms, pipelines, initial wells and gas plant cost in excess of US$600 million (100% interest). Trillion is redeveloping the field with a planned 17+/- well program [program A] commenced in 2022. Phase B outlines the target is to exit 2024 with six producing wells: five development wells and one stratigraphic well.”
In addition, Trillion’s strategy includes three additional upcoming programs: 9–10 workovers underway this year, exploration of stratigraphic and channel prospects and, depending on land acquisition, offblock exploration of areas adjacent to the SASB Project.
Headquartered in Canada, Trillion Energy owns 49% of the SASB natural gas field, which is producing a critical domestic supply of natural gas during Europe’s ongoing energy shortages. It also holds a 19.6% (except three wells with 9.8%) ownership interest in the Cendere Oil Field and has a farm-in agreement to earn 50% interest in three oil exploration blocks in southeast Türkiye called Cudi-Gabar.
For more information regarding Trillion Energy, visit the company’s website at www.TrillionEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to TRLEF are available in the company’s newsroom at https://nnw.fm/TRLEF
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