- Licensed & Permitted to 9-Nov-2031
- 12,387 Ha Akçakoca Development Lease
- Trillion working interest: 49%
- 23 wells drilled, 4 currently producing gas at this time
- 4 production platforms tied into 18 km subsea pipeline and onshore gas processing plant
- The SASB gas field needs significant re-investment to increase production levels, which have declined significantly since initial development occurred during 2012
- Natural gas prices at two year high CAD$9.52/MCF (US$7.27/MCF) as at Dec 31 2018 — Up 40% in 12 months
SASB Project History
SASB was the Black Sea’s first commercial natural gas development project which was developed at the time by a consortium of local and international energy companies. Phases I & II of the project were developed during 2008 – 2012, where Trillion Energy’s 100% subsidiary Park Place Energy Turkey Limited “PPETL” invested approximately US $180m for a 36.75% interest. Several other project partners also invested the balance of funds, to meet the total project cost at the time of US $608m.
Between 2008 and the present, the SASB Gas field has produced approximately 41 BCF of Natural Gas (100%) based on the Phase I & II development. Revenue from production was then shared between the respective project partners.
During 2017/18 – Trillion Energy acquired a 100% of PPETL, which at that time owned 36.75% of the SASB Gas field
During 2018, PPETL purchased an additional 12.25% of the SASB Gas field to bring its total project interest to 49%
Commencing 2018 Trillion Energy /PPETL have embarked on an assessment and study to determine the future potential for the SASB Gas field. This assessment work is expected to be completed prior to the end of 2019.