Enterprise takes over Tunisian operations

Nov 20, 1996 01:00 AM

Enterprise Development has closed the acquisition of the entire Tunisian oil and gas operations of an independent US oil company. The offshore and onshore petroleum and natural gas properties consist of five separate blocks, comprising approximately 350,000 net acres of oil and gas leases, which include six shut-in offshore oil wells. The properties include a 33.33 % interest in the offshore Cosmos concession, a 50 % interest in the offshore Yasmin concession, an interest in two onshore natural gas farmout agreements, and a 30 % interest in the Jeffara concession, on the Libyan border. A plan of development has been filed on the Jeffara concession, and an exploratory well will be drilled as soon as a rig is available.

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