Page 18 - EurOil Week 25

EurOil PROJECTS & COMPANIES EurOil

Canadian firm to boost production

at offshore Turkish gas fields

CANADA CANADIAN oil company Trillion Energy plans developments to enter production in 2007. Since
to draw up comprehensive redevelopment plans then, its wells have recovered 1.2bn cubic metres
Trillion Energy wants to to boost production at the South Akcakoca gas of gas, with annual output peaking in 2011 at 184
target additional proven basin (SASB) fields in the Black Sea off Turkey, it mcm before beginning to decline. The project
gas reserves. said on June 18. also consists of four offshore platforms, pipelines
The company said it had already undertaken and a gas processing plant, with development
operations to extend the life of SASB’s Phase 1 costs to date coming in at $608mn.
and 2 wells, resulting in a 50% ramp-up in pro- Gas is extracted from Eocene-age sandstone
duction to 1.517mn cubic feet per day (15.7mn reservoirs some 1,100-1,800 metres under the
cubic metres per year). It wants to lift produc- seabed, in shallow waters less than 100 metres
tion further by tapping additional proven gas deep. Under Phase 1, the three nearer-shore
reserves, it said. fields Ayazli, Dogu Ayazli and Akkaya were
“We look forward to bringing SASB gas pro- brought on stream in 2007, followed by the
duction to ... new highs as redevelopment occurs Phase-2 Akcakoca field further offshore in 2011.
after we complete our development plan,” Tril- Trillion has a 49% interest in the project,
lion CEO Arthur Halleran commented. The while the remaining 51% is held by state-owned
company’s gas sales in Turkey had “maintained TPAO.
consistent strength,” he said, at prices between Trillion also has interests in onshore fields
$6.00 and $7.60 per 1,000 cubic feet ($212-268 in south-east Turkey, including the Cendere
per 1,000 cubic metres). This represents a “sub- oilfield. The company reported on June 16 that
stantial premium” to North American markets, it was once again profitable to exploit Cendere,
he added after oil prices recovered above $35 per barrel.
SASB was one of the first Black Sea oil and gas It is also involved in a gas project in Bulgaria. ™

Croatia’s INA plans €250mn

biorefinery investment

CROATIA CROATIAN oil and gas company INA plans to part of the money needed to build the biorefin-
build a €250mn biorefinery in Sisek, central Cro- ery from the Innovation Fund of the European
The plant will have a atia, that will enable it to produce second-gen- Union.
negative CO2 footprint, eration bioethanol from biomass. The plant will “The development of the Biorefinery pro-
INA says. have a “negative CO2 footprint”, the company ject is in line with the company’s development
said in a press release on June 23. guidelines and is proof of our commitment to
The project is part of the INA R&M New the New Direction programme. The location in
Direction 2023 programme that envisages the Sisak is an important part of INA’s business, and
concentration of INA’s oil refining in Croatia in all the activities we undertake are the precondi-
the Rijeka Oil Refinery and the transformation tions that need to be achieved in order to be able
of its location in Sisak into an industrial centre. to make a final investment decision [FID],” said
INA intends to go ahead with the programme Fasimon.
despite the “challenging business environment”, INA is also investing €50mn into establishing
the company said. a raw material supply chain, growing the energy
However, the president of INA’s manage- plant miscanthus.
ment board, Sandor Fasimon, said support The company has already signed a licence
from the Croatian government and the EU agreement with the French group AXENS for its
are prerequisites for the implementation of FuturolTM cellulose ethanol technology and a
the project. basic design agreement in February.
INA, owned by Hungary’s MOL and the Cro- At the end of 2019, it also signed a contract
atian state, submitted a request to the Ministry of with the Belgian company De Smet Engineers &
Economy and Entrepreneurship for the project Contractors for the provisional basic design for
to be granted the status of a strategic investment an ancillary facility and its integration into the
project earlier this month. It hopes to secure existing refinery infrastructure. ™

P18 www. NEWSBASE .com Week 25 25•June•2020