Project Profile
Value: Undisclosed
Location: Southern Tunisia near the Libyan border, Tunisia
Reserves: 66 MMboe
Production: Unknown
Area: 3,164 square kilometres (km2) or (781,824 acres)
Start-up Year: -
The Sud Remada Permit, located in southern Tunisia, is near the Libyan border and encompasses an area of 3,164 square kilometres (km2) or (781,824 acres). Storm Tunisia (a subsidiary of Madalena Ventures International) was the initial operator of the permit, managing the main drilling venture targeting the Ordovician Bir Ben Tartar Formation, with a net unrisked resource potential of 66 MMboe. The Bir Ben Tartar Production Concession was awarded in April 2011 to cover the area associated with production from the discovered TT structure. In the first half of 2011, production commenced on the TT2, TT3 and TT4 wells. Ongoing development has involved multi-stage vertical fracture stimulations in the three wells to enhance production rates and reserves. Drilling of the TT5, TT6, TT7, and TT8 wells began in Q3 2011, with completion and production commencing in Q4 2011. The 3D seismic data acquired in late 2010 and the 2011 drilling results improved the understanding of the TT structure. An additional six structures (including a 74 km2 El Bell structure located approximately 17 km northeast of the TT2 discovery well) and several leads have also been identified. Chinook Energy is the operator of the permit with 86% interest while has been working closely with ETAP to agree to a plan of development for the TT Field on the Sud Remada Block. CYGAM has earned a 14% working interest in the entire Permit, or 109,455 net acres, with the Permit extended to December 2014.
Operators:
Chinook Energy: Operator with 86% interest
CYGAM: 14% interest (decision to exit in 2015)