Tunisia grants licenses for oil exploration

Oct 01, 2005 02:00 AM

Tunisia signed two agreements with four foreign companies granting them licenses for oil exploration and prospecting.
The first license was awarded to Austria's Geo-Stat Technology and the US Pascal Petroleum in partnership with the Tunisian Institution for Petroleum Activities.

Under the license, two wells will be drilled at the cost of $ 10 mm in an area of 2,100 sq meters in the province of Tataween, 550 km (343 miles) south of Tunis.
The second license granted to Britain's Atlas Petroleum Exploration Worldwide and Canada's Arogas International, allows the two companies to explore for oil in territorial waters off the province of Sfax, 270 km (168 miles) south of Tunis.

Source: MENAFN
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