Our Operations
Bargou Exploration Permit
| COE Interest: | 85% |
| Participant Status: | Operator |
| Permit Type: | Exploration Permit (PSC) |
| Location: | Offshore (Part Onshore) |
| Water Depth: | 0-300 metres (mostly <100m) |
| Area: | 4,616 km2 |
| Award Date: |
5 Year exploration licence awarded 18 April 2008 |
| Tenure: |
Initial period of 5 years, 2 renewal periods of 3 years each |
| Current Year: | 4 |
| Commitments: |
Initial period - 1 well, 100 km2 3D and 600km of 2D seismic |
| Expiry Date: | 17 April 2013 (initial period) |
Overview
The Bargou Exploration Permit is located in the Gulf of Hammamet, offshore northeastern Tunisia, in water depths of typically less than 100m. The Gulf of Hammamet possesses a proven petroleum system with several discovered onshore and offshore fields.
Eni has brought the nearby Maamoura field onstream in 2010. Lundin operates the nearby Oudna field (initial rates of ~24,000 bopd) and several Operators are progressing plans for commercialisation of nearby fields, such as Eni with the Baraka field, 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 and Fortuna Formations and limestones of the Ain Grab, Bou Dabbous and Abiod Formations. These reservoirs are expected to form multiple stacked targets in structural traps.
Cooper Energy reprocessed some 1,700km and acquired 973 km of 2D seismic data within the permit during the initial 2 year Prospecting Licence phase (2006-2008). A rigorous evaluation identified a significant exploration portfolio of prospects, leads and features with a portfolio of nearly 1 billion barrels (P50) undiscovered recoverable resources. RPS Energy has undertaken an independent review and concurs with Cooper Energy's evaluation. The permit was then converted to an Exploration Permit in 2008 with an initial period of 5 years.
A 140km2 areal extension was granted in February 2010 in return for a modest increase in the work program.
In 2009 a 46km onshore 2D survey was acquired over the Menzel Horr Prospect to aid in structural definition of the prospect and aid in the selection of a drilling location. The Menzel Horr-1 well was subsequently drilled in early 2011 and was plugged and abandoned.
A 205km2 marine 3D was acquired over the Hammamet West Oil Field over the period December 2009 - January 2010. Interpretation of the processed data has been completed. In May 2011 Cooper Energy announced that an Independent Persons Report by Senergy confirmed the assessment of a large oil in-place volume at Hammamet West. To determine recoverable resources and whether commercial flow rates can be attained, a horizontal well and production test is required. Cooper Energy is finalising possible locations for future appraisal drilling.