Canadian oil and gas company Trillion Energy has signed a non-disclosure agreement with an undisclosed major natural gas trading company to explore strategic energy opportunities in Bulgaria and Turkey.
As per the agreement, the two companies will share confidential information pertaining to potential new joint business opportunities in the two countries.
In Bulgaria, the two parties aim to advance the Vranino 1-11 exploration block, which holds coal bed methane natural gas with exploration potential.
Trillion Energy stated: “What precipitated the initiative is the mutual recognition that discovering new sources of natural gas in the European region is paramount. [Alongside this is] Trillion’s recent technological success in the Black Sea using long-reach directional drilling technology and [the potential of] Trillion’s Vranino 1-11 natural gas exploration block which has significant gas resources, and which remains unexplored by Trillion.”
Located in north-east Bulgaria, Vranino 1-11 is a 98,205-acre exploration licence block. The licence area comprises 60 stacked, gas-charged coal seams, which give a high average net coal footage per well.
In March 2023, Trillion Energy announced a gas discovery at the South Akcakoca Sub-Basin (SASB) gas field in the Black Sea offshore Turkey, following the drilling of the West Akcakoca 1 well.
Drilled to a total measured depth of 3,839m, the well encountered an abundance of gas pay.
As per the analysis of logging while drilling data, Trillion estimates 55m of potential natural gas pay within six sands in the Akcakoca member (SASB production zone).
