The Company currently holds five Tunisia concessions that comprise a diverse portfolio of development and exploration assets.
The Company currently produces oil and gas in Tunisia through its various working interests in two of the five Oil & Gas Concessions. This production can be sustained with low-risk development drilling, with significant growth opportunities over the medium to long term with high-impact near-field exploration within the Company’s additional concession areas.
Schematic illustration showing plays and trap types across Serinus Energy’s concessions in Tunisa.
The Sabria concession (28,890 gross acres, Serinus 45% WI) comprises a large Ordovician light oil field that provides Serinus with a stable production base from its large reserve base and long reserves life index.
The Ordovician reservoir at Sabria contains 358 MMbbl OIIP (P50)1, into which only eight wells (12 including re-entries) have been drilled. The reservoir comprises a large stratigraphic trap with a continuous oil column that spans the Upper Hamra, Lower Hamra and the El Atchane formations.
Low-cost incremental work programs can provide near-term production growth from existing wells. The Company views further development drilling at Sabria as a low-risk, significant production growth opportunity over the medium to long term.
Schematic illustration of the regional structure and stratigraphy that sets up the large stratigraphic trap at Sabria.
Map of the Sabria field showing areas of common subsurface risk. Note that majority of the concession area is composed of very low to low-risk drilling for appraisal and development wells.
The Triassic reservoirs of the Chouech Es Saida concession (52,480 acres, Serinus 100% WI) have produced over 9.8 MM BOE to date from the TAGI Formation and continues to represent a stable incremental production base for the Company.
The deeper Silurian Acacus Sands and the Tannezuft fan, which have been penetrated and successfully tested and produced hydrocarbons in two wells in the concession, hold enormous growth potential for Serinus Energy. The Silurian Acacus sands, which are hydrocarbon-charged in the Chouech Es Saida block, are emerging in Southern Tunisia as a major new oil, condensate and gas play with exploration-well success rates of nearly 100%.
Illustration of the stratigraphy and trapping mechanism for the Chouech Es Saida and Ech Chouech concessions. Production has historically been primarily oil from the fluvial Triassic of the TAGI Formation. Recently, in Southern Tunisia, the deltaic Silurian Acacus sands have been targeted by exploration wells with very high success rates for oil, gas and condensate. Thick basin-floor fan sands lie encased within a thick source-rock-bearing shale package. These sandstones are proven to be gas- and condensate-bearing within the Chouech Es Saida concession.
The Tannezuft fan play is known by Serinus to only occur within the Chouech Es Saida and Ech Chouech concessions: a forty-five-metre-thick basin floor fan complex was encountered by the CS-Sil-1 (drilled 2010) and the CS-Sil-10 well (drilled 2011), and tested condensate and gas from multiple sands at rates as high as 850 bbls/d and 6.7 MMcf/d, respectively.
Schematic illustration showing the trapping configuration of Silurian plays in the Chouech Es Saida and Ech Chouech concessions.
The Ech Chouech concession (33,920 acres, Serinus 100% WI) has, since the discovery of the field in 1970, produced oil intermittently from the TAGI Formation. Adjacent to the Chouech Es Saida block, the concession similarly carries significant upside potential in Silurian exploration targets that are not yet drilled, but are defined on 3D seismic (acquired in 2008).
The Zinnia concession (17,920 acres, Serinus 100% WI) is a currently non-producing production block with two formerly producing oil and gas wells. Discovered in 1991 by Shell, the field produced until 2008. Prospectivity lies within an undrilled fault block that requires 3D seismic to be confidently defined.