Circle centres on Tunisian double ahead of wildcats

摘要

Circle Oil has taken over one block offshore Tunisia while adding a stake in another, in two separate deals. In the offshore Mahdia licence, it acquired the remaining 30% it did not already hold from Tethys Oil for US $3m. A 3D seismic shoot has been completed over the shallow water block and a well must be drilled in the first half of next year. Currently two options are being investigated - the 125m boe El Medouini prospect and the 55m boe West El Medouini target.