Tunisia: DNO farms in to new licences
Issue 270
- 04 Feb 2014
| 1 minute read
Norway’s DNO International has completed farm-ins to the Sfax Offshore exploration permit and the Ras El Besh concession under an agreement with Eurogas International and Atlas Petroleum Exploration Worldwide. DNO Tunisia now holds an 87.5% participating (100% paying) interest in the permit and the concession, and has assumed operatorship and a significant share of costs. The two licences are located in the prolific Gulf of Gabes and cover 3,296km2, mostly offshore in shallow waters. To date, three discoveries have been made with combined recoverable resources of 35m-60m barrels of oil, and the assets hold significant exploration potential, with 29 prospects estimated to contain 500m-700m barrels of unrisked resources.
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