Circle Oil has kicked off its first offshore drill program with the spudding of the EMD-1 well, in the waters off the Tunisia coast.
EMD-1, in the Mahdia permit, is testing the El Mediouni prospect including targets in the Birsa Sands and a secondary target Ketatna Formation.
The Birsa Sands are estimated to contain 185mln barrels of in-place oil, according to the Company, within the El Mediouni prospect specifically the sands are predicted to have 46mln barrels.
And, as the company points out, this is substantially above the anticipated threshold for commerciality – which it says is 10mln barrels recoverable.
The prospect is located in the vicinity of a number of existing, producing oil fields including the Tazerka, Birsa, Oudna, and Halk El Menzel.
EMD-1 is being drilled by the PetroSaudi Discoverer. It will be drilled down to at least 1,460 metres and the drilling phase is expected to last for between five and seven weeks.
Prof Chris Green, Circle Oil chief executive, describes the start of drilling as “another stage” in this year’s busy work programme.
“We are very pleased to be drilling what is our first offshore well and to be working with PetroSaudi and other experienced service companies on this project.”