Calgary’s Serinus Energy and state player Entreprise Tunisienne D'Activites Petrolieres (ETAP) have started drilling a two-well development programme at their Sabira oilfield onshore central Tunisia.
The Toronto-listed explorer said WIN-12bis would be drilled to a total depth of 3900 metres over the next 63 days in the eastern portion of the four-well oilfield, with the Winstar-13 well to follow afterwards.
Discovered in 1979, the Sabria field holds 280 million barrels of oil in reserves and 67 million barrels of contingent resources in naturally-fractured Ordovician sandstones.
Sabria is 45% owned and operated by Winstar Tunisia, which was acquired by Serinus Energy last year, while ETAP holds the other 55%.
Formerly known as Kulczyk Oil Ventures, Serinus Energy’s largest shareholder is Polish oligarch Jan Kulczyk.
The company gained a $60 million kitty for its Tunisian programme late last year from the European Bank for Reconstruction and Development.