Exceed Capital Holdings, a Canadian-based company, has said that it will be participating in a seismic programme in Tunisia.
The programme, taking place on the Jorf permit in the country, will be used to determine the location of an exploratory well. By paying 15 per cent of the drilling and completion costs, Exceed gains a ten per cent interest in the first drillable structure, the company has said.
The Jorf permit is located in south-central Tunisian and comprises of an area of land measuring one million acres. Major gas and oil pipelines are known to traverse the area, Exceed has said.
Following the seismic programme determining a location, drilling is set to commence on the Jorf permit in August next year, according to the Canadian company.
The news comes in a week when the Oudna oil field has announced that it is now producing 20,000 barrels of oil per day.
The ownership of the oil field is split equally between Swedish-based Lundin Petroleum and Atlantis Holding Norway.
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Canadian company to participate in seismic programme in Tunisia
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