Mazarine Energy Tunisia acquired a 45% interest in the Zaafrane Exploration License in October 2013. Joint venture partners include the Tunisian state oil company ETAP (50% equity) and Medex (5%). Both ETAP and Medex are carried through the exploration phase, meaning all expenditures are made 100% by Mazarine Energy Tunisia. The work program for the license was compiled and agreed to in close cooperation with ETAP; Medex will contractually follow the advice of the company. Mazarine Energy is the Operator of the license, which has been confirmed formally by DGE.
The Zaafrane license commitments include acquiring new 3D seismic, reprocessing existing 2D seismic and the drilling of two new exploration wells before the end of the Exploration License term, 2 May 2015. Early that year, Mazarine Energy applied for renewal of the license. Following the completion of the first well and the spud of a second, Mazarine Energy received formal notification from the regulatory body DGE that all license commitments had been met, and a renewal for some 4000 km2 of the original license was granted until 2 May 2019.
The first exploration well CAT-1 was spud on the 10 February 2015 with the CTF-4 drilling rig. In April 2015, an oil-bearing reservoir was discovered. After extensive data acquisition in the borehole, the well was tested and flowed, constrained by surface facilities, at a rate of 4,300 barrels of oil per day and 395,000 cubic meters of natural gas per day. Following suspension of the well, the rig was moved to the drilling location of the second exploration well DGH-1. By September, the target reservoir of DGH-1 was reached and again hydrocarbons were proven. Moreover, at a shallower interval, the DGH-1 well found another oil-bearing sand in the TAGI. As much data as reasonably possible were acquired from this surprising find, including fluid samples, after which the well was completed and produced clean for future hook-up and production. Subsequently, the drilling rig returned to CAT-1 to complete that well, after which the rig was released. In conclusion, both wells are ready for production once processing facilities have been put in place.
Following the CAT-1 discovery, Mazarine and state oil company ETAP established a joint project team to submit a Plan of Development (POD). This POD was finalised in Q1 2016 and approved by Comite Consultatif des Hydrocarbues on 5th May 2016.
Mazarine Energy is extremely pleased to report that all activities in Tunisia have been executed without major incidents or Lost Time Injuries.