Tunisia

Oil Search was awarded a 100% interest in its first exploration block in Tunisia, the Tajerouine Permit, in December 2007 (Oil Search operator) and a 25% interest in its second, the Le Kef permit (Primoil operator), in January 2008. Both permits are located in the onshore Tunisian fold belt covering a total area of 7,688 square kilometres. The commitments for the first four years for Tajerouine are the acquisition of 400 kilometres of 2D seismic data and the drilling of one well, and for Le Kef include the acquisition of 165 kilometres of 2D seismic data and the drilling of one well. The work programme during 2008 includes assimilation and interpretation of the existing data while seismic acquisition is expected to commence in 2009.

Tunisia offers low cost exploration with good fiscal terms in a country with an active oil industry where discoveries can be rapidly commercialised.