Project Profile
Estimated value: US$23 million
Location: 1,330 miles (75 kilometres) to the east of the Tunisian Libya border, Tunisia
Reserves: 100 million barrels of oil
Production: 20,000 bopd (2004)
Water Depth: 75 metres
Discovery: 1975
Situated offshore 1,330 miles (75 kilometres) to the east of the Tunisian Libya border, in a water depth of 246 feet (75 metres) is the Didon field. PA Resources holds a 100% interest in the field and serves as the operator. Originally discovered in 1975 by Elf Aquitaine, the field was not developed until Medex acquired ownership in 1996. Medex bought the Zarat permit and Didon concession from Marathon International Oil Company, thus becoming operator of the project.
Didon commenced production in May 1998 and reached a production plateau of 7,000 bopd by August of that same year. When the field\'s production started declining, Medex commenced appraisal drilling to revamp the field. A 3D seismic survey was acquired and confirmed the field held additional oil in place than previously estimated - roughly 100 million barrels of oil. Following confirmation of additional reserves, the second phase of development commenced in 2004. Medex decided to add a fixed platform and a refurbished FSO on the Didon field to increase its production rate from 12,000 to 20,000 bopd. During this time, Medex sold all of its interest in the Zarat Permit and the Didon Concession to PA Resources.
Operators:
PA Resources: Operator with 100% interest
Contractors:
ENSCO: Drilling contractor