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OMV Announces New Discovery in Southern Tunisia

Source: www.gulfoilandgas.com 2/16/2010, Location: Africa

OMV, the leading energy group in the European growth belt, announces the discovery and successful testing of gas and condensate in its Fella-1 exploration well in the recently granted Nawara Production Concession within the Jenein Sud exploration block in southern Tunisia. This is the fifth successive discovery in this area in the last four years and underpins the significant potential of the block.

The exploration well reached a total depth of 4,635 meters and encountered a total of 31 meters net gas and condensate pay in several Acacus Formation reservoirs at depths ranging from 3,720 to 3,980 meters. Both the reservoir thickness and condensate yield are equal to the best seen in OMV’s previous wells in the area and exceeded pre-drill expectations. Further exploration and appraisal activities in the concession are currently ongoing with drilling and testing of additional wells to increase the resource base and to pave the way for a field development in the coming years.

Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: ”This promising series of discoveries in our Jenein Sud exploration block supports our efforts to grow in Tunisia, an important country in our North African core region".

A single 13 meter (gross thickness) zone was tested at the base of the Acacus Formation, resulting in a flow of 16 mn cf/d (2,700 boe/d) of gas and 400 bbl/d of condensate. The total flow potential and condensate yield of this well is significantly higher. Drilling of the next well in the block, the Ahlem-2 appraisal well, commenced on February 9th, 2010. OMV and the Tunisian national oil company ETAP each hold a 50% interest in the Nawara Production Concession, 700 km south of the Tunisian capital Tunis.

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