Canada-based Trillion Energy to explore oil in southeastern Türkiye
VANCOUVER
Canada-based energy company Trillion Energy has announced that it has entered into a farm-in agreement with Derkim Poliüretan Sanayi to earn a 50 percent working and revenue interest in three oil exploration blocks within the Cudi-Gabar petroleum province in southeastern Türkiye.
The Cudi-Gabar province is central to an active petroleum system extending up from Iraq and Syria, where Türkiye’s portion contains several major oil fields including Şehit Esma Çevik, discovered in 2022 and Şehit Aybüke Yalçın, discovered in 2023, the company said in statement.
Trillion’s farm-in obligations -sole exploration phase- are 351 kilometers of 2D seismic in 2023 followed by drilling four oil exploration wells in 2024, the statement added.
The sole exploration phase is expected to cost Trillion about $16 million.
The exploration term for the Western Blocks extends until May 17, 2027, while the exploration term for the Eastern Block extends until Dec. 16, 2028, the company said.
The Eastern Block is approximately 15 kilometers by 30 kilometers in size and is approximately 12 kilometers from the Şehit Aybüke Yalçın Oil Field at Mount Gabar. The Western Blocks farm-in are a combined area of approximately 30 kilometers by 60 kilometers and located approximately 30 kilometers west of the Eastern Block, it said.
Trillion Energy is focused on natural gas production for Europe and Türkiye with natural gas assets in Türkiye and Bulgaria.
In May this year, President Recep Tayyip Erdoğan announced the discovery of oil reserves with the potential daily production capacity of 100,000 barrels at the Mount Gabar.
