Circle Oil spuds promising Tunisian well

Projects belonging to Circle Oil
Projects belonging to Circle Oil

Irish explorer Circle Oil has spudded the first exploration well on the Mahdia permit offshore Tunisia.

The El Mediouni-1 (EMD-1), located near already producing oil and gas fields, is planned to test the play potential of the El Mediouni prospect, including the primary Birsa Sands target and the secondary fractured carbonates of the Ketatna Formation.

It will be drilled to the target depth of 1,460 metres and is expected to be completed within seven weeks.

The Birsa Sands prospect alone holds an estimated proven and probable reserve of 185million barrels of stock tank original oil in place with recoverable estimates for the EMD-1 of 46million barrels, the company said in a statement.

“We are very pleased to be drilling what is our first offshore well and to be working with PetroSaudi and other experienced service companies on this project. It marks the start of another stage in our busy 2014 operational work programme,” said professor Chris Green, Circle Oil’s chief executive.