OIL: AlgeriaTunisia, Agreement for well off Hammamet Coast

(ANSAmed) – ALGIERS, JULY 27 – The Algerian hydrocarbon group Sonatrach and the Tunisian oil activity company, ETAP, have reached a contract agreement worth 20 million dollars for the exploration of the offshore Kaboudia oil well south of the gulf of Hammamet, in Tunisia, which will be up and running at the end of the year.

Sonatrach and Etap already jointly manage a well in the south of Tunisia, north of Chott El Jerid, on the border between the two countries. The cost of the exploration is around one billion dollars. In order to manage the cooperation, the two companies set up a mixed company, Numhyd, seven years ago. (ANSAmed).

Source: http://www.ansamed.info

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