ANGOLA      ALGERIA      CAMEROON      CHAD.      CONGO      EGYPT..      EQUATORIAL GUINEA      GABON      LIBYA.     NIGERIA      SOUTH AFRICA      SUDAN      TUNISIA      OTHERS 

Cygam Energy Wins Oil Exploration Rights for Sud Tozeur Area in Tunisia

07-07-2007

Cygam Energy Inc., a Canadian oil and natural-gas producer that searches for crude in Italy and other Mediterranean countries, won an exploration license in Tunisia.

Cygam's Italian unit, Rigo Oil Co., signed an agreement in Tunis with the Tunisian Energy Minister Afif Chelbi.

The Calgary-based company will invest $8 million over four years in exploration, including drilling a well in the 4,380 square-kilometer (1,690 square-mile) Sud-Tozeur area in the south of the country, Chelbi said.

Tunisia is stepping up exploration because it's the only net importer of oil in North Africa, apart from Morocco.