Offshore staff
Petro-Canada Mellita Inc., a wholly owned subsidiary of Petro-Canada, plugged and abandoned the Medoun-1 well in the Mellita exploration permit offshore Tunisia. The company drilled the well to 2,861 m TD, but did not encounter commercial quantities of hydrocarbons in the Meloussi formation.
Petro-Canada farmed-out the permit from Centurion Energy International Inc. earlier this year. The agreement included a commitment well, the Medoun-1, to be drilled before September 2005 at no cost to Centurion. Under the agreement terms Petro-Canada Mellita Inc. becomes operator and funds 100% of an exploration program, up to $13.5 million, in return for 72.5% in the 845,000 acre Mellita permit.
The exploration program includes up to 2,274 km of 2D marine seismic, 75 km of 2D land seismic, and the drilling of two exploration wells; one offshore and one on Djerba Island.
PetroCanada has contracted a jackup rig to drill the first of five offshore structures on the Mellita permit. The rig will be available in 4Q 2005, and will test a large structure in the Zeebag formation, which is productive in the area.
6/28/05
