PA Resources applies to branch out off Tunisia

PA Resources (PAR) has submitted an application to Tunisia’s government to develop the offshore Didon North structure.

Offshore staff

STOCKHOLM -- PA Resources (PAR) has submitted an application to Tunisia’s government to develop the offshore Didon North structure. The company is currently procuring long-lead items and plans to drill an exploration well in 2011.

Over the past few months, the main Didon field has operated with two of its five production wells shut in periodically to increase pressure in the reservoir. This pattern is set to continue, but PAR adds that it is taking measures at all the wells to compensate for the field’s natural decline.

In mid-May, CGG Veritas completed a 3D survey over the Zarat license off Tunisia. Following interpretation of the data, PAR plans to drill an appraisal well on the Elyssa prospect in the permit next year. Concurrently, the company is working on development plans for both Elyssa and the Zarat discovery.

In the North Sea, PAR expects to drill two exploration wells in Danish license 12/06 during the early part of 2011. Next month, it hopes to start acquiring a small-scale 2D seismic survey in UK block 17/4b, and a 3D survey in blocks Q7 and Q10a in the Dutch North Sea. In the latter case, it will manage the survey on behalf of the license operator.

Offshore Republic of Congo, PAR is a partner in the Turquoise oil discovery in the Mer Profond Sud concession. Two appraisal wells are scheduled for 4Q 2010. Depending on the size of the estimated reserves, Turquoise will either be a standalone development, or tied in to the existing infrastructure on the producing Azurite field.

At another PAR permit off Congo – the Marine X1V license – operator SOCO International is due to start exploration drilling late this year or early in 2011.

08/18/2010

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