Araifa Permit | YUG-NEFTEGAZ PRIVATE LIMITED

The Araifa Exploration Permit Area is located in southern Tunisia within the hydrocarbon-rich Ghadames Basin. The Permit lies north of the El Borma field—Tunisia’s largest oil field, discovered in 1965—and west of the Jebel Grouz field, discovered in 1981. Existing oil and gas export pipelines originating from El Borma traverse the southeastern section of the Araifa Permit Area, ensuring proximity to strategic infrastructure.

YNG Exploration Limited is the designated Operator of the Araifa Exploration Permit under a Convention executed with the Republic of Tunisia, represented by ETAP (Entreprise Tunisienne d’Activités Pétrolières), the national oil company. The Exploration License entered into force following its publication in the Official Bulletin of the Republic of Tunisia No. 103 on 27 December 2013.

Work Program

The approved exploration program for Araifa includes:

Geological and geophysical studies
Satellite imagery acquisition, processing, and interpretation
Acquisition, processing, and interpretation of 655 km² of 3D seismic
Drilling of two (2) exploration wells.

Seismic Acquisition

Field seismic operations commenced on 4 April 2016, covering a 655 km² 3D seismic survey. Data acquisition and recording were completed on 3 August 2017. GeoSeis Service acted as the seismic contractor for this campaign.

Exploration Wells

Araifa-1: Drilled and completed in March 2022. The well tested successfully, delivering 150,000 Sm³/d of gas and 730 bbl/d of condensate.
Araifa-2: Drilled and completed in March 2023, followed by well testing.

Development Status

A long-term production test (LTT) on the Araifa discovery commenced in May 2025, marking a key milestone in the appraisal and commercialization phase of the project.

ARAIFA Permit Overview

Name	Araifa
Classification	Exploration Permit
Location	Southern Tunisia
Association Contract	YNG Exploration Limited Bur. B-1.3 Immeuble Lac de Constance, Rue du Lac de Constance, Les Berges du Lac - 1053 Tunis, Tunisia Phone: +216 71 963 043 Fax: +216 71 963 044
	Operator	50%
	ETAP	50%
Surface Area	1012 km²
Effective Date	December 27, 2013
JORT N°103 of December 27, 2013
Validity Extension: December 26, 2025

	Exploration Permit Initial Period (5 + 2 years: Dec. 2013 - Dec. 2020) In December 2020, the license was renewed for 1 year due to force majeure - the Covid-19 pandemic until December 2021 In December 2021, a 1-year license renewal was received as part of the second license renewal until December 2022	Exploration Permit 1^st Renewal (3 years) In December 2022, the License was renewed for 3 years until December 26, 2025	Exploration Permit 2^nd Renewal (3 years) Commitment
Commitment	Geophysical studies. Satellite image acquisition and interpretation. Acquisition, processing, and interpretation of 451 sq.km of 3D seismic data. Two (2) exploration wells.	3D seismic acquisition. One (1) exploration well.	One (1) exploration well (Objective and TD will be agreed with ETAP))
Work performed	G&G Studies: Interpretation of 2D seismic data, analysis of 2D seismic lines, and integration of available well logs. Satellite Data: Acquisition and interpretation of high-resolution satellite imagery. 3D Seismic Acquisition: Full-field 3D seismic survey covering 655 km². Uphole Survey: Execution of uphole measurements to refine near-surface velocity models. 3D Seismic Processing: End-to-end processing of the acquired dataset. 3D Seismic Interpretation: Development of the structural and stratigraphic model to define drilling targets. Araifa-1 Exploration Well: Drilled and successfully tested. Araifa-2 (Triassic) Exploration Well: Drilled and tested. Infrastructure and Ongoing Activities Early Production Facility (EPF) and export lines constructed to support the long-term test of the new discovery, which commenced in May 2025. Plan of Development (POD) preparation currently underway.

Exploration Permit Initial Period (5 + 2 years: Dec. 2013 - Dec. 2020)

In December 2020, the license was renewed for 1 year due to force majeure - the Covid-19 pandemic until December 2021

In December 2021, a 1-year license renewal was received as part of the second license renewal until December 2022

Exploration Permit 1^st Renewal (3 years)

In December 2022, the License was renewed for 3 years until December 26, 2025

Exploration Permit 2^nd Renewal (3 years)

Commitment

Commitment

Geophysical studies.
Satellite image acquisition and interpretation.
Acquisition, processing, and interpretation of 451 sq.km of 3D seismic data.
Two (2) exploration wells.

3D seismic acquisition.
One (1) exploration well.

One (1) exploration well (Objective and TD will be agreed with ETAP))

Work performed

G&G Studies: Interpretation of 2D seismic data, analysis of 2D seismic lines, and integration of available well logs.
Satellite Data: Acquisition and interpretation of high-resolution satellite imagery.
3D Seismic Acquisition: Full-field 3D seismic survey covering 655 km².
Uphole Survey: Execution of uphole measurements to refine near-surface velocity models.
3D Seismic Processing: End-to-end processing of the acquired dataset.
3D Seismic Interpretation: Development of the structural and stratigraphic model to define drilling targets.
Araifa-1 Exploration Well: Drilled and successfully tested.
Araifa-2 (Triassic) Exploration Well: Drilled and tested.

Infrastructure and Ongoing Activities

Early Production Facility (EPF) and export lines constructed to support the long-term test of the new discovery, which commenced in May 2025.
Plan of Development (POD) preparation currently underway.