Swedish oil and gas company Petroskandia has announced that it has been awarded the Teboursouk exploration block onshore Tunisia under a five-year agreement
The Teboursouk block covers 4,956 sq km in Tunisia’s northwest region, in the governorate of Jendouba.
Petter Elmstedt, chief executive of Petroskandia, said “The block holds great interest as it is part of a formation that has already yielded several significant discoveries in neighboring Algeria and Italy.”
The Stockholm-based start-up is expected to hold a 50 per cent operatorship stake in the northwest Tunisian acreage with state-owned company ETAP (Entreprise Tunisienne D’Activités Pétrolière) holding the other half, according to the joint venture agreement.
Petroskandia is likely to acquire a total of at least 250km of 2D seismic data and to drill one exploration well during the initial five-year term, which is extendable upto eight years, the company said.
