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Petroskandia is awarded Teboursouk exploration block in Tunisia and signs a joint venture with ETAP

STOCKHOLM -- Petroskandia, has said that the Tunisian ministry in charge of hydrocarbons has awarded the Teboursouk exploration block to Petroskandia.

The Teboursouk block measures 4956 sq km, equivalent in size to almost half of Jamaica. It is located in onshore northwestern Tunisia, in the governorate of Jendouba. Teboursouk is located to the west of the producing gas field Utique.

Petroskandia has been awarded operatorship and a 50% interest in the block. The remaining 50% interest is held by ETAP (Entreprise Tunisienne D’Activites Petroliere) according to the signed joint venture agreement. The block is awarded with an initial 5 year term and is extendable up to 8 years. Petroskandia has committed to acquire a total of at least 250 km of 2D seismic data and to drill one exploration well during the initial 50 year term.

Petter Elmstedt, Petroskandia’s Chief Executive Officer commented: “We are delighted to have been awarded the Teboursouk block. The block holds great interest as it is part of a formation that has already yielded several significant discoveries in neighboring Algeria and Italy. We look forward to exploring this block further in collaboration with ETAP.”

08/30/2013

 

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