Canadian oil and gas company Trillion Energy International is looking at strategic opportunities with an unnamed global energy trader, in order to accelerate exploration at its licensed Vranino 1-11 onshore natural gas block in Bulgaria and to identify business possibilities in Turkey, the company said in a press release.
Trillion Energy and its unnamed partner signed a non-disclosure agreement to share confidential information on potential joint business opportunities in Turkey and in Vranino, which has coalbed methane natural gas exploration potential.
The company, involved in buying, distributing, and selling natural gas, generated revenue of more than $89.4 billion euro in 2022.
“What precipitated the initiative is the mutual recognition that discovering new sources of natural gas in the European region is paramount, Trillion’s recent technological success in the Black Sea using long-reach directional drilling technology and Trillion’s Vranino 1-11 natural gas exploration block which has significant gas resources, and which remains unexplored by Trillion,” Trillion Enegry added.
Last year, company announced it plans to speed up the start of exploration at Vranino 1-11 in the Dobrich region, given the changes in Bulgaria’s energy environment resulting from the halt of Russian Gazprom’s deliveries in the early weeks of the Ukraine war.
According to independent third-party estimates from 2014, the 397 sq km Vranino block has undiscovered gas reserves of 32.6 million cubic meters.
With the Greece-Bulgaria gas interconnector and in light of the expansion of energy infrastructure in Turkey, Bulgaria, Romania, Hungary and Slovakia, Trillion said it acknowledged the significant opportunities to gain access to pipeline infrastructure in the region.
