Project Profile
Location: central Gulf of Gabes, about 100 km (62 mi) offshore, Tunisia/ Libya, North Africa
Area: 768,000 acres
Depth: averaging 95 m
The Joint Oil Block is a 768,000 acre License, equally contributed by Tunisia and Libya, straddling the maritime boundary in the central Gulf of Gabes, about 100 km offshore in water depths averaging 95 m. Situated in the hydrocarbon-rich Pelagian Basin, the Joint Oil Block sits in close proximity to a number of large oil and gas fields, including El Bouri (EUR 3-4.5 billion bbl + 3.5 TCF), Ashtart (EUR 350-400 million bbl) and Miskar (EUR 1.5 TCF). With only five wells drilled to date, and one major discovery -Zarat, the Joint Oil Block holds significant future oil and gas. Fisal is a high-quality prospect, immediately adjacent to the Zarat discovery in Tunisian waters, with Eocene oil potential and Upper Cretaceous gas / condensate potential. At the Eocene level it is anticipated that Fisal will share a common oil-water contact with Zarat. Less than 6 km north of Zarat, Fisal could be tied into the Zarat FPSO if successful.
Operators:
Sonde Resources was the former Operator with 100% interest. The company filed for bankruptcy in February, 2015. The block is currently operated by:
ETAP (Tunisia)
National Oil Corporation (Libiya)
Contractors:
Taylor-DeJongh: Contract to initiate a process to explore and evaluate potential strategic alternatives to enhance shareholder value with regard to the Joint Oil Block