PA Resources submits Zarat field plan

STOCKHOLM, July 28, 2015 – Sweden’s PA Resources has submitted an updated development plan for the Zarat field for approval by Tunisian authorities. The plan calls for a two-phase development of the shallow-water field, with first oil scheduled for 2020.

The first phase comprises of four production wells and facilities with the capacity to process and export 20,000 barrels of oil per day and 2.83 mcm (100 mcf) of gas per day. The plans’ second phase calls for an additional four wells and expanded facilities, with the goal of raising capacity to 40,000 barrels of oil per day and 5.66 mcm (200 mcf) of gas per day.

If approved, the project would enter the front-end engineering design phase in 2017. PA Resources constructed the development plan in collaboration with Tunisia’s national oil company, Entreprise Tunisienne d’Activités Pétrolières (ETAP). PA Resources currently owns a 100-percent interest in the Zarat licence, but ETAP has the option to exercise its back-in right for up to a 55-percent working interest.

The Zarat licence contains only the southern section of the Zarat field. The northern section is held by Joint Oil, a joint-venture company between ETAP and Libya’s National Oil Corporation. The Zarat field is estimated to contain up to 147 million barrels of recoverable oil.