On 19 February 2018, Bizerte Energy Ltd completed the acquisition of 5% equity from Medex Petroleum, in the Ghrib production concession. The deal was first agreed on 2 October 2017 and is effective from 31 October 2017. The transaction sees Medex exit the block and Tunisia. The Cypriot-registered company has been winding down its North Africa operations since 2015 and no longer holds any upstream assets. It was first incorporated in 1995. Bizerte Energy is a private Maltese-registered company, established in April 2015. It the second deal by the Tunisian incumbent, following the acquisition of a 5% stake from Medex in the adjacent Zaafrane exploration permit in September 2017.The 120 sq km Ghrib production concession lies in the Chotts Basin, to the east of Serinus Energy's Sabria Field. Ghrib was awarded to Mazarine Energy in September 2016, as a carve-out from the Zaafrane licence. The block contains two oil & gas discoveries, CAT 1 and GDH 1, drilled in 2015. First oil was achieved on 24 October 2017. Estimated reserves figures are ~10 MMboe, with output averaging ~1,300 bo/d in Q4 2017. Mazarine operates Ghrib with 45% equity, in partnership with Bizerte (5%) and ETAP (50%, carried). 
Bizerte Egy completed the acquisition of 5% equity from Medex Petroleum, in the Ghrib concession.