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Wednesday, August 28, 2013
Tunisia’s state-run oil and gas firm ETAP awarded Petroskandia the Teboursouk exploration block. Petroskandia will be the operator with a 50% stake, with the remaining 50% held by ETAP.
The block is awarded with an initial five-year term and is extendable up to eight years. Petroskandia is committed to acquire a total of at least 250 km of 2D seismic data and to drill one exploration well during the initial five-year term.
The Teboursouk block measures 4,956 sq km and is located in onshore northwestern Tunisia, to the west of the producing gas field Utique.
Petter Elmstedt, Petroskandia’s CEO commented “We are delighted to have been awarded the Teboursouk block. The block holds great interest as it is part of a formation that has already yielded several significant discoveries in neighboring Algeria and Italy. We look forward to exploring this block further in collaboration with ETAP.”
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