Circle drops plan to explore offshore Oman
Circle Oil will relinquish block 52 offshore Oman.
The company was unwilling to undertake this program on a sole-risk basis.
In Tunisia, Circle is awaiting the government’s approval to proceed to the next exploration phase on its offshoreMahdia block.
Here the EMD-1 encountered a 133-m (436-ft) column of light oil in the Cretaceous, Ketatna carbonates.However, the hole became unmanageable due to mud losses preventing logs from being run, leading to the well being suspended.
Circle plans to continue farm-out discussions for this easterly extension of the prolific Gulf of Gabes petroleum system.