Serinus Energy Bets on Tunisia Amid Uncertainties Over Ukraine

Serinus Energy announced that the Winstar-12bis (“WIN-12bis”) development well in central Tunisia has commenced drilling. 

‘The planned total depth is 3,900 metres and the well is expected to take 63 days to drill. WIN-12bis is the first of a 2 well drilling program by the Company in the Sabria Field. The rig will move to the second location, Winstar‑13 (“WIN-13”), immediately after finishing WIN-12bis,’ the company wrote on its website.

The two development wells are in the Sabria Field, which is a oil and gas accumulation discovered in 1979.

Winstar, a wholly-owned subsidiary of Serinus, is the operator of the field with a 45% interest. The remaining 55% is owned by the Tunisian state oil company, Entreprise Tunisienne D’Activites Petrolieres.

Serinus is mainly focused on Ukraine, where it owns a 70% interest in KUB-Gas LLC near to the City of Lugansk in Eastern Ukraine. According to the company, four of the concessions are currently producing oil or gas.