Plectrum to acquire survey offshore Tunisia

Nov. 20, 2006
Plectrum Petroleum Plc. has awarded Compagnie Generale de Geophysique (CGG) a contract to acquire 3,000 km (1,864 mi) of 2D seismic data over the Nabeul block, offshore Tunisia, in which Plectrum holds a 50% interest.

Offshore staff

TUNISIA -- Plectrum Petroleum Plc. has awarded Compagnie Generale de Geophysique (CGG) a contract to acquire 3,000 km (1,864 mi) of 2D seismic data over the Nabeul block, offshore Tunisia, in which Plectrum holds a 50% interest.

The Nabeul block covers 3,352 sq km (equivalent to 13 North Sea blocks at 1,294 sq. mi.) and is in 250-300 m (820-984 ft) water depth. Several prospective structures have identified in the Birsa sand fairway play in the block are capable of trapping oil volumes in excess of 100 MMboe.

CGG's MVCGG Princess will acquire the new survey in 2Q 2007 over the entire block.

The company recently completed reprocessing of 1,000 km (621 mi) of older regional seismic data over the Nabeul block. These reprocessed seismic lines show improved data quality, confirming earlier assessments of prospectivity. The processed data also reveal additional leads on trend with the neighbouring Oudna field, 12 km (7.5 mi) west.

Seismic Image Processing Ltd. of Banchory used the pre-stack time migration process to reprocess the data.

"The award of this contract marks a turning point for Plectrum as we move forward into offshore operations. We are reviewing our seismic processing options for the 2007 survey and will update the market accordingly once we have finalised our plans," executive chairman Mike Whyatt said.

Production began from the Oudna field, offshore Tunisia, on Nov. 11, 2006, from a single production well supported by a water injection well tied back to theIkdam FPSO.

11-20-06