Our Operations
Nabeul Exploration Permit
| COE Interest: | 85% * |
| Participant Status: | Operator |
| Permit Type: | Exploration Permit (ETAP JV) |
| Location: | Offshore |
| Water Depth: | 270 - 1,200 metres |
| Area: | 3,352 km2 |
| Award Date: | 5 Year Exploration Licence awarded on 24th January 2008 |
| Tenure: | Initial period of 5 years, 2 renewal periods of 4 years each |
| Current Year: | Year 4 |
| Commitments: | Initial period - 1 well and 300km of 2D seismic |
| Expiry Date: | 23rd January 2013 (initial period) |
*ETAP has a back-in right up to 50% in the event of a hydrocarbon development.
Overview
The Nabeul Exploration Permit is located in the Gulf of Hammamet, offshore north-eastern Tunisia. The permit is adjacent to the Bargou and Hammamet PSC's in which Cooper Energy is a participant. The acquisition of the Permit from Cairn Energy in November 2010 builds on Cooper Energy's strategic acreage position in offshore Tunisia.
The main exploration play in the Nabeul Permit is the Miocene Birsa Formation sandstones which are the reservoirs in the adjacent Tazerka, Birsa and Oudna fields. The Tazerka field produced 21MMbbl of oil and is the subject of redevelopment studies by the Hammamet Permit Joint Venture (Cooper Energy 35%).
The nearby Oudna field was developed by Lundin in 2006 and produced oil at initial rates of approximately 24,000bopd.
The Joint Venture has identified a number of prospects and leads in the western portion of the Permit and is planning to acquire 600km2 of 3D seismic in order to mature the prospects and leads portfolio in order to select a drill candidate.