Serinus Energy said it is ramping up operations in Tunisia after a prolonged period of restricted activity – due to difficult social conditions in the country – and its local team has begun reopening the Chouech Es Saida field.
It is initially rehiring employees, clearing roads, and inspecting equipment. This work is ongoing and the company anticipates that work to replace pumps in the wells will start by early in the third quarter.
Additionally, the company plans to deploy capital to the Sabria field where it will re-enter a damaged well. The company believes it will be a low risk opportunity and an “excellent” allocation of capital.
The investment in Sabria is expected to start late in the fourth quarter.