Offshore staff
TUNIS, Tunisia -- Plectrum Petroleum has gained a 50% interest and has become the operator of the Nabeul block offshore Tunisia in the Gulf of Hammamet by acquiring REAP Tunisia GmbH.
Plectrum paid £250,000 and agreed to spend £2.5 million on a work program which includes the reprocessing of existing seismic data, the acquisition of modern 2D seismic, and modeling to confirm the suitability of electro-magnetic imaging and marine magnetotelluric in the block.
The Tunisian government oil and gas company Enterprise Tunisienne d'Activités Petrolières holds the other 50% interest.
"This highly-prospective acreage is a key strategic addition to our asset portfolio, where we believe the use of innovative exploration techniques can significantly de-risk prospects prior to drilling," said Mike Whyatt, Plectrum's executive chairman.
"We can now work towards our goal of better defining the oil volumes in several prospective structures already identified in the block prior to committing to an exploration well."
8/16/06
