Hammamet Exploration Permit
| COE Interest: | 35% | |
| Participant Status: | Non-Operator | |
| Permit Type: | Exploration Permit (PSC) | |
| Location: | Offshore | |
| Water Depth: | 80-350 metres | |
| Area: | 4,676 km2 | |
| Award Date: | 23 September 2005 | |
| Tenure: | Initial period of 5 years, 2 renewal periods of 3 years each |
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| Current Year: | 5 | |
| Commitments: | 1 well (fulfilled with the drilling of Fuchsia-1) 200 km2 3D (fulfilled) 300 km2 3D due in extension period |
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| Expiry Date: |
22 September 2012 (2yr extension to the initial period) |
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The Hammamet Exploration Permit is located in the Gulf of Hammamet, offshore north-eastern Tunisia, adjacent the 100% Cooper Energy Bargou Exploration Permit. The Gulf of Hammamet possesses a proven petroleum system with several discovered onshore and offshore fields. Cooper Energy farmed into the Hammamet Exploration License in late 2007.
Lundin operates the nearby Oudna field (initial rates of ~20,000 bopd) and several Operators are progressing plans for commercialisation of fields, such as Eni with the Baraka and Maamoura fields, Storm Ventures International with the Cosmos Sud field and TOPIC with the Halk el Menzel field.
The main target reservoirs in the block are sandstones of the Birsa Formation and limestones of the Ain Grab, Bou Dabbous and Abiod Formations. These reservoirs are expected to form multiple stacked targets in structural traps.
The Joint Venture acquired 409 km2 of 3D and 211 km of 2D seismic in 2007. The 3D surveys were acquired over the Tazerka Field and adjacent prospects (283 km2), and the Fuchsia Prospect (126 km2). Recently, 600 km of 2D reprocessing was also undertaken over the Kasserine Prospect.
The Tazerka field was abandoned in 1998 after having produced 21.6MMbbls from the Birsa reservoir. Studies are currently underway to evaluate the potential for rejuvenation of the field from unswept and bypassed oil-pay, as well as adjacent undrilled fault compartments.
Several other undrilled structures are present, including the Kasserine Prospect on trend with the Oudna and Birsa fields.
The Fuchsia Prospect is adjacent to and on-trend with the Cosmos Sud field (first oil 2011) and the Maamoura (onstream 2010) and Zelfa fields. The prospect is amplitude supported. The Joint Venture drilled the Fuchsia-1 well during May-June 2010 with the Ensco 105 jack-up rig. The well was drilled to a depth of 2,959mDRT. The well intersected a 16m gas column within the Birsa Fm objective. Preliminary investigations indicate that the discovery is sub-economic.
The Joint Venture has applied for and been granted a 2 year extension to the intial period.