Centurion acquires exploration and exploitation permit in Tunisia

Apr 29, 1998 02:00 AM

Centurion Said Arrata, President of Centurion Energy International, has announced recently that its Ecumed Petroleum Grombalia Ltd. signed the final agreement with the Government of Tunisia to acquire the Mellita Exploration and Exploitation Permit located in the southern portion of the Tunisian sector of the Mediterranean Sea. This offshore permit covers 910,000 acres. Ecumed has 100 % working interest with 50 % backing by the government of Tunisia subject to a discovery well.
The country's major gas field, Miskar, has 700 bcf to 1.1 tcf of gas and is located north-east of the concession. The Ashtar oil field, second largest oil field in Tunisia with reserves of 200 mm barrel of recoverable oil, lies on trend to the north-east of the permit. The Centurion operated Ezzaouia oil field, with cumulative production of 22 mm barrels, lies onshore immediately west of the permit. The company's El Biban oil and gas project, which is producing at 4000 bpd , adjoins the permit to the south.

Mr. Arrata emphasised that the permit is not only highly prospective for large oil and gas accumulations in the Cretaceous and Jurassic carbonates and sandstones but also has the potential for huge reserves in the deeper Triassic structures which have been identified within the permit area. He went on to say that Centurion has already developed numerous leads on the permit lands.

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