19th Aug 2015 06:47
LONDON (Alliance News) - Circle Oil PLC said Wednesday that Tunisian authorities have approved its application to renew the exploration permit on its Mahdia block, which is being extended for three years until January 19, 2018.
Circle Oil has a 100% working interest in the permit, which covers an off-shore area of 3,024 kilometres squared, and contains the El Mediouni structure.
The company now plans to select suitable partners to evaluate and develop the El Mediouni structure and other prospects on the permit. It said it has already had "initial expressions of interest from a number of oil and gas companies with the financial strength and industry experience to make them suitable joint venture partners."
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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