SASB natural gas field : Trillion Energy secures Uranus jack-up rig from GSP

Trillion Energy International said that its fully-owned subsidiary — Park Place Energy Turkey has awarded an offshore drilling services contract relating to the SASB natural gas field to Romania-based GSP Offshore SRL (GSP).

Under the contract, the Canadian oil and gas company will be provided the Uranus jack-up rig from GSP Offshore SRL for the former’s 2022-2023 drilling program on the natural gas field located in Turkish waters.

According to Trillion Energy International, the contract has a daily rig services rate of $95,000/day and a minimum drilling time of 100 days. However, the company expects the total project duration to be 8-9 months.

Trillion Energy International has made an advance payment of $1m and a mobilization cost of $0.8 million for the Uranus jack-up rig.

The Uranus jack-up rig will be mobilized starting in late July 2022 from Romania and will arrive at the SASB natural gas field in August 2022 after wrapping up its current operations in Romania.

Trillion Energy International plans to spud five wells from existing wellhead production platforms using the Uranus jack-up rig, which enables it to place the wells onto production as soon as they are completed.

The Canadian firm has a 49% stake in the SASB natural gas field, which is located in the Black Sea. It expects to spud the first well in August 2022.

Each of the following four new wells is expected to take around 40 days, plus completion time, said Trillion Energy International.

Apart from drilling operations, the Uranus jack-up rig will be used for re-entry and re-completion of a couple of existing wells at the SASB natural gas field, which still have behind pipe reserves proved using pulsed neutron-neutron (PNN) logs.

Arthur Halleran — CEO of Trillion Energy International said: “The Company is excited to have secured one of the best and most suitable drill rigs located in the Black Sea area. The SASB drilling program will provide instant online natural gas reserves production during a time of historically high natural gas prices.”

The Uranus jack-up rig is a three-legged, self-elevating unit, cantilever type, Marathon Le Tourneau Class 116-C design drilling rig. It can drill up to maximum water depths up to 100m and 7,600m maximum drilling depth.

Gabriel Comanescu — President and CEO of GSP Group said: “We are pleased to partner with Canadian company Trillion Energy. We are confident that our expertise from previous successfully completed projects in the Black Sea stands as a guarantee for the activities that will be performed under the SASB Project.”