Circle gains extension for prospective permit offshore Tunisia

Offshore staff

DUBLIN, IrelandTunisia’s government has approved an application by Circle Oil to renew the exploration permit on its offshore Mahdia block by three years until Jan. 19, 2018.

The 3,024-sq km (1,167-sq mi) concession contains the El Mediouni discovery drilled by the EMD-1 well in August 2014. This encountered oil shows in the Ketatna (Oligo-Miocene) carbonates.

Although mud losses prevented acquisition of log data, the shows appear to indicate a significant hydrocarbon resource.

Circle adds that the permit holds numerous other similar prospects which it is keen to explore in greater detail.

The license extension carries a commitment for one exploration well and one appraisal well, and acquisition of 300 sq km (116 sq mi) of 3D seismic. 

Circle, which has a 100% interest, will look to bring in partners to help evaluate and develop El Mediouni and other prospects.

08/25/2015

 

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