NOBLE TO ACQUIRE INTEREST IN TUNISIAN TRACTS

Noble Affiliates Inc., Ardmore, Okla., will acquire a 25% interest in two onshore concessions in Southwest Tunisia from Walter International Inc., Houston, including one on which gas development is planned. Noble unit Samedan of Tunisia Inc. agreed to buy the interest in the 108,680 acre Baguel and 54,340 acre El Franig concessions, both formerly operated by Amoco Tunisia Oil Co. Other interest holders are operator Walter International 25% and Freeport-McMoRan Oil & Gas Co., New Orleans, 50%.

June 4, 1990

2 min read

Noble unit Samedan of Tunisia Inc. agreed to buy the interest in the 108,680 acre Baguel and 54,340 acre El Franig concessions, both formerly operated by Amoco Tunisia Oil Co.

Other interest holders are operator Walter International 25% and Freeport-McMoRan Oil & Gas Co., New Orleans, 50%.

The Baguel block lies about 30 miles west of the El Bourma-Ghannouche gas pipeline. Two gas wells have been drilled on it, one each on the Baguel and Tarfa prospects.

The Baguel prospect well cut about 55 ft of Triassic pay and flowed 10.4 MMcfd through a 1 in. choke with 525 psi flowing tubing pressure. The first of two development wells on the prospect is to be drilled by yearend, Noble said. Once both are drilled and tested, the companies will lay a gas pipeline from the field to the El Bourma-Ghannouche line at a cost of about $6 million.

The Tarfa well, about 10 miles north of the Baguel drillsite, cut 33 ft of pay but was not tested.

The El Franig concession, about 30 miles northwest of the Baguel block, holds one well that flowed 12.6 MMcfd of gas and 1,843 b/d of condensate. Noble said there are no plans for further drilling on the block.

The Tunisian government has guaranteed local market gas sales of 20 MMcfd from the blocks beginning in 1991. Sales will increase to as much as 38.8 MMcfd by 1998, depending on field performances and market conditions.

Tunisian law provides for pricing of gas sold on the local market at 85% of the calorific equivalent of high sulfur fuel oil delivered from Mediterranean ports. Noble figures the gas price would be about $1.75/Mcf based on present fuel oil prices.