Trillion signs GSP Offshore for drilling off Turkey
Trillion Energy’s 100% subsidiary, Park Place Energy Turkey, has signed a drilling services contract with Romania’s GSP Offshore to secure a jack-up rig for its 2022–2023 drilling programme on its SASB natural gas field located offshore Turkey, the company said on May 18.
The contract provides a daily rig services rate of $95,000/day and a minimum of 100 days of drilling time, however, Trillion anticipates the total project time as eight to nine months. Trillion has made an advance payment of $1mn and a mobilisation cost of $0.8mn.
Mobilisation of the Uranus jack-up rig is expected in late July from Romania arriving in August onsite, following the completion of its current operations in Romania.
Trillion intends to drill five wells from existing wellhead production platforms using the Uranus rig, which allows the company to put the wells onto production as soon as they are completed, it said.
The first well may be spud in August and each of the subsequent four new wells is expected to take approximately 40 days, plus completion time. In addition to drilling operations, the same rig will be utilised for re-entry and re-completion of two existing wells, the company said.
Trillion owns multiple assets throughout Turkey and Bulgaria. It is 49% owner of the SASB natural gas field, has a 19.6% interest in the Cendere oil field and in Bulgaria it owns the Vranino 1-11 block, a prospective unconventional natural gas property.