OSLO, Norway – DNO Tunisia AS has agreed to take a controlling interest in two permits offshore Tunisia.
The company will acquire 87.5% of the Sfax offshore exploration and Ras El Besh concessions in the Gulf of Gabes from Atlas Petroleum Exploration Worldwide and Eurgas International, subject to approval from the Tunisian authorities.
DNO Tunisia will become operator and assume a pro rata share of the cost.
The two concessions cover a total area of 3,296 sq km (1,272 sq mi), mostly in shallow waters. They include three oil discoveries with combined recoverable resources in the 35-60 MMbbl range. Additionally, 29 identified prospects have been identified with aggregate oil resources estimated at 500-700 MMbbl.
The initial work program includes drilling two exploration/appraisal wells in 2014 on the Salloum and Jawhara discoveries. Salloum-1, drilled in 1991, tested 1,848 b/d while Jawhara-1, drilled in 1976, tested 1,484 b/d. A further well in 1997, Rash El Besh-1, tested 612 b/d.
DNO’s current Tunisian interests are in the Hammamet offshore exploration permit and the Fkirine prospecting permit.