Pioneer plans exploration program for Tunisian blocks
A unit of Pioneer Natural Resources Co., Irving, Tex., will earn a 50% interest in three Tunisian permits from Eurogas Corp., Calgary, by drilling two wells within 2 years, spending about $5.2 million.
By the OGJ Online Staff
HOUSTON, May 30 -- A unit of Pioneer Natural Resources Co., Irving, Tex., will earn a 50% interest in three Tunisian permits from Eurogas Corp., Calgary, by drilling two wells within 2 years, spending about $5.2 million.
The Bazma, Jorf, and El Hamra permits cover 2.7 million acres in the TAGI sand play of the Ghadames basin. Pioneer Natural Resources Tunisia Ltd. has an option to operate the three permits.
Algerian discoveries Hassi Berkine and Qoubba are on trend with El Borma TAGI field in Tunisia, said Pioneer, and suggest the potential for further Tunisian finds.
Pioneer has already spudded Douz No. 1 well in Bazma permit.
The well is intended to test a large TAGI sand closed structure updip from Baguel field and on trend with Tarfa field. Both are producing light oil and gas, said Eurogas.
The Calgary company said spudding Douz No. 1 marked the culmination of a $3.5 million geotechnical study that found more than a dozen potential targets.
Pioneer called area pipeline infrastructure "well developed" and said it has excess capacity.
