Serinus hopes to increase production in Tunisia, and is looking for a new Moftin in Romania

Serinus Energy hopes to increase production in Tunisia after the workover of the N-2 well in the Sabria field is completed, Chairman and CEO Jeffrey Auld said. In turn, in Romania, the company is looking for more deposits of raw materials – as effective as Moftinu.

“We hope to increase production in Tunisia after the workover of the N-2 well is completed, which should take 30-40 days,” Auld said in a conference call.

On the other hand, the W-1 well, also in the Sabria field in Tunisia, whose workover has been suspended, is currently designing a workaround for the obstacles that prevented the workover from being completed.

“In Romania, we are focusing on 2D studies of our concession, which we still consider very promising. We are looking for ‘Moftinu’s second well,’ added Auld.

In Q1 2023, the average daily production of the Serinus Energy Group was 691 boe, including 163 boe in Romania and 528 boe in Tunisia. In the second half of May 2023, the company plans to deliver to the contractor 50,344 bbl of oil extracted in Tunisia for collection.

Serinus is an international oil and gas exploration company. It has a diversified portfolio of projects in Tunisia and Romania. The company has been listed on the Warsaw Stock Exchange since 2010. The company had USD 49.28 million in consolidated revenue in 2022.

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