LONDON: Circle Oil Plc (AIM:COP) completed a 2-D marine seismic acquisition program in the Mahdia Permit offshore Tunisia. A total of 311 miles (501 km) of infill full fold 2-D seismic data has been acquired by PGS Marine. The acquired data will now be sent for processing as a precursor to its interpretation and integration into the existing datasets for the area.
The Mahdia Permit is situated off the northern coast of Tunisia and covers an area of 1,459 square miles (3,780 sq km). Historically this and the surrounding area was successfully explored by Shell and Total resulting in discoveries and commercial oilfields, such as Tazerka, Birsa, Oudna, Halk Al Menzel and Isis.
Circle Oil CEO David Hough said, "The onboard preliminary processing of the acquired data clearly shows the target sequences and we are very pleased to progress our studies in this prospective area. The integration of this new data will allow us to complete our mapping and prioritize the multiple undrilled prospects which have already been mapped from the existing datasets."
Circle holds a 70 percent working interest in the permit with its partner Tethys Oil and Mining Inc., which holds the remaining 30 percent interest. A commitment well must be drilled on the permit between now and mid-2012.
Source [Energy Current]
Friday, February 27, 2009
Saturday, February 21, 2009
Tunisia: Country Eyes Energy Surplus in 2009
unis — Following ten years of energy dependency, Tunisia is eying a small energy surplus of 0, 6 million ton of oil equivalent, it was announced at an international energy forum organized by the weekly magazine, Realités on Friday in Tunis.
This improvement -in 2007 the balance showed a deficit of minus 0,2% (TOE)- is mainly due to the increase in the country's production of natural gas from 2,2 tons of oil equivalent in 2007 to 3,2 TOE during the current year.
In his opening address to the forum, Mr Abdelaziz Rassaa, Secretary of State in charge renewable energies and food industries said that recent gas extraction projects such as the "Hasdrubal" gas field or the "gaz du sud" project, will allow Tunisia to enjoy a gas surplus that is expected to reach 2 million tons of oil equivalent by 2012.
He also said that investments in the energy sector had increased five fold from 2005 to 2008, from 500 million dinars to 2700. Thirty eight oil wells were also dug during the same period, against only 14 in 2005, including some 20 new findings made during the same period.
Mr Rassaa added that in the period 2004-2008, the number of household connected to the gas network increased from 220,000 to 460,000 with a set objective of 700,000 households in 2011.
He also said that one of the aims of Tunisia's energetic policy is to establish a convergence between the price of energy on the local market and that of the international market.
Via [All Africa]
Tunisia eyes energy surplus in 2009
Tunis, February 20, 2009- Following ten years of energy dependency, Tunisia is eying a small energy surplus of 0, 6 million ton of oil equivalent, it was announced at an international energy forum organized by the weekly magazine, Realités on Friday in Tunis.
This improvement –in 2007 the balance showed a deficit of minus 0,2% (TOE)- is mainly due to the increase in the country’s production of natural gas from 2,2 tons of oil equivalent in 2007 to 3,2 TOE during the current year.
In his opening address to the forum, Mr Abdelaziz Rassaa, Secretary of State in charge renewable energies and food industries said that recent gas extraction projects such as the “Hasdrubal” gas field or the “gaz du sud” project, will allow Tunisia to enjoy a gas surplus that is expected to reach 2 million tons of oil equivalent by 2012.
He also said that investments in the energy sector had increased five fold from 2005 to 2008, from 500 million dinars to 2700. Thirty eight oil wells were also dug during the same period, against only 14 in 2005, including some 20 new findings made during the same period.
Mr Rassaa added that in the period 2004-2008, the number of household connected to the gas network increased from 220,000 to 460,000 with a set objective of 700,000 households in 2011.
He also said that one of the aims of Tunisia’s energetic policy is to establish a convergence between the price of energy on the local market and that of the international market.
Via [Tunisia Online News]
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