UK oil and gas exploration firm EnQuest is to become a North African player after farming in to fields in the Gulf of Gabes offshore Tunisia.
The move involves EnQuest taking a 70% stake and operatorship of the Didon and Zarat fields from Swedish oil and gas company PA Resources.
Didon has 2MMboe of net producing 2P oil reserves and Zarat has more than 40MMboe of net contingent resources, says EnQuest.
An infill drilling program of two wells planned on the Didon field should also add additional resources, says EnQuest.
A further programme of two infill wells in the Didon oil field should add additional reserves in the near future.
The deal will cost EnQuest $23m and up to $226min cost carry and dependent on certain targets being met.
Didon Oil field
Didon is located 70km offshore Tunisia in 70m water. It was discovered in 1976 with first oil in 1998 and production to date of 31MMboe. Current daily production is about 1400Boepd.
Zarat Permit: The Zarat and Elyssa discoveries
Zarat is 80km offshore in 90m water. It was discovered in 1992 and is an undeveloped offshore oil and gas condensate discovery in moderate permeability fractured limestone.
Elyssa is 50km offshore in 50m water. It was discovered in 1975 and is dry gas in the Bireno and Cherahil reservoirs.
There are commitments to drill one appraisal well at Elyssa and one exploration well in the Zarat Permit area.
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