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Tamoil Awarded Oil Exploration License in Chad

12-28-2007

Tamoil is awarded oil exploration license in Chad according to its press release on Thursday.

"Tamoil Africa had reached a deal with the Chadian government and was awarded an oil exploration permit on three areas Irdiss 1, Idriss 2 and Wadjadou 1 which are located near the border with Libya," it said in a statement.

Tamoil is a Libyan Energy Company with interests in Egypt, Niger and Mali. The company denies some media reports about any investment in oil exploration in the disputed Western Sahara. 

"The company denies emphatically some media reports about an oil investment deal in Western Sahara. It did not sign any agreement on oil exploration permits in Western Sahara and it has no plan to invest in any oil operations there."

Investing in Western Sahara is a sensitive issue for any Libyan company because the Tripoli government takes a neutral stand on the conflict pitting the Algeria-backed Polisario Front independence movement against Morocco.