Trillion Energy International Inc. is a Canadian based oil and gas exploration and production company with operations primarily in Turkey. The Company focuses on developing its South Akcakoca Sub-Basin (SASB) natural gas field and producing oil from the Cendere field. Trillion Energy International Inc. holds a 49% interest in the SASB gas field and a 19.6% interest in the Cendere oil field, with certain wells at 9.8%.
The Company generates revenue through the sale of…
Trillion Energy International Inc. is a Canadian based oil and gas exploration and production company with operations primarily in Turkey. The Company focuses on developing its South Akcakoca Sub-Basin (SASB) natural gas field and producing oil from the Cendere field. Trillion Energy International Inc. holds a 49% interest in the SASB gas field and a 19.6% interest in the Cendere oil field, with certain wells at 9.8%.
The Company generates revenue through the sale of natural gas and crude oil produced from its Turkish assets. Natural gas is sold domestically in Turkey at approximately US$9.33 per thousand cubic feet, while oil is sold at prices averaging US$84.65 per barrel. Revenue is derived from net production after royalties, with the Company pursuing optimization programs to increase output and reduce downtime.
The company operates through the following segments: South Akcakoca Sub-Basin (SASB) and Cendere.
- SASB: This segment involves the exploration, development, and production of natural gas from the offshore South Akcakoca Sub-Basin field in the Black Sea, Turkey. The field includes four production platforms, subsea pipelines, and an onshore gas processing plant capable of handling 42.4 million cubic feet per day. Trillion Energy International Inc. operates under the SASB Development Program, which included drilling five successful long reach directional wells and one re-completion in 2022 and 2023, with ongoing work to install velocity strings, pumps, and gas lift systems to address water-loading issues.
- Cendere: This segment pertains to the production of crude oil from the onshore Cendere field in Southeast Turkey, a long-term low decline oil reservoir. The Company utilizes a network of dispersed well pads, flowlines, and manifolds connected to a field gathering station, with oil exported via the TPAO Karakus processing facility and the BOTAS-operated pipeline. As of December 31, 2024, the field produced 674 barrels of oil per day gross, with net production to the Company averaging 82 barrels per day during 2024 after royalties.
Trillion Energy International Inc. operates as a small-scale producer in the competitive Turkish oil and gas sector, where it benefits from established infrastructure at the SASB field, including pipelines, platforms, and processing facilities. The Company competes with both international and domestic exploration and production firms but differentiates itself through its focus on optimizing existing assets and executing a phased development program to increase reserves and cash flow.
The Company sells its natural gas to domestic Turkish consumers and industrial users through the national gas transmission network operated by BOTAS. Its crude oil is delivered to the TPAO Karakus processing facility and transported onwards via the BOTAS-operated oil pipeline for refining and marketing. Specific customer names are not disclosed in the filing, but the Company relies on these state-linked entities for the off-take of its hydrocarbon production.