TRILLION ENGAGES SCHLUMBERGER FOR WELL ENGINEERING SERVICES
9:00 am ET February 16, 2022 (Globe Newswire) Print
Trillion Energy International Inc. ("Trillion" or the "Company") (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) is pleased to announce it has signed a purchase order ("PO") with Schlumberger ("SLB") to provide all well engineering design services and drilling support for new well drilling operations at the SASB gas field, Black Sea.
Schlumberger is the world's leading provider of technology for drilling and production to the global energy industry.
SLB's services will include design and engineering of: well directional trajectories, offset analysis, casing requirements, drilling mud programs, directional tools, and the like. The initial engineering and planning services will be delivered during Q2 of 2022, in anticipation of drilling to commence in Q3 2022.
SLB well designs will be for long reach, directionally drilled development wells, capable of reaching more than 2 kilometers horizontally from the rig location /production platforms to access the target gas pool, thereby eliminating the necessity for costly subsea tie-ins for most wells.
It is the Company's plan to drill over 13 wells at the SASB Gas Field in this manner, bringing one new well into production every 45 days, starting in the 3 Qtr of 2022 and the duration of 2023, thereby significantly ramping up the Company's gas production revenue over that time frame. Each well is anticipated to cost approximately USD $8.7m (100% interest - USD $4.3m net to us)
Art Halleran CEO stated:
"SLB brings best in class engineering and drilling support services to our tool kit at SASB. Using their long reach drilling technology, directional drilling tools, and their vast hands-on engineering experience, SLB significantly lowers our capital costs for bringing new wells into production and increases the anticipated returns. They also significantly lower our drilling risks."
About the Company
Trillion Energy International Inc. is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea's first major natural gas development projects; a 19.6% (except three wells with 9.8%) ownership interest in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.
The Company's NI 51-101 (effective date December 31, 2020) and up dated effective October 31, 2021 and other reports relating to its prospective resources may be found on www.sedar.com as well as the Company's website. GLJ has assessed 2p reserves of approximately 41 BCF for 100% interest in the SASB gas field, where the Company' net interest is 49% of same.
Contact
Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com
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