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

27 August 2013

Petroskandia AB, a Swedish oil and gas company, is pleased to announce that the Tunisian ministry in charge of hydrocarbons has awarded the Teboursouk exploration block to Petroskandia.

The Teboursouk block measures 4 956 km2, 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’Activités Pétrolière) 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 5 year term.

Petroskandia 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.”

Petroskandia, founded in 2011, is an independent Swedish oil and gas company focused on the North African region. The founders leverage their expertise from the oil industry in combination with experience from North African trade and industry to form new ventures in the dynamic North African region.

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