Primoil Signs a Contract for Exploration Permit in Tunisia

01-22-2008

Tunisia has granted an oil and gas exploration permit to Primoil, a government official said.

Primoil is a joint venture between France's Soprodis and Australia's Oil Search Ltd..

Under a 4-year production sharing accord, Primoil in partnership with la Societe Tunisienne des Activites Petrolieres (ETAP), will invest $5 million to drill one well, he said.