Agreement for license in Tunisia
(Thomson Reuters ONE) -
DNO today reports that on October 20th, an agreement was signed at the Ministry
of Industry and Technology for the grant of a hydrocarbon exploration license
permit called "FKIRINE" between the Norwegian company DNO Tunisia AS, a 100%
owned subsidiary of DNO International ASA and the Tunisian Oil Activities
Company (ETAP).
The Protocol was signed by Mr. Abdelaziz Rassaa, Minister of Industry and
Technology, Mr. Mohamed Akrout, CEO of ETAP, and Erik Syrdalen, Managing
Director of DNO Tunisia AS.
Located in central Tunisia, the permit covers an area of 2,064 km2.
DNO Tunisia AS and the Tunisian Oil Activities Company also entered into a
partnership agreement which sets out the terms and conditions of their
associational partnership. DNO Tunisia AS will fund the exploration phase and
ETAP has the option to participate within the 50% limit in any possible
discovery on this permit.
Some 2.5 million U.S. dollars will be invested in the work program that will be
valid for two years.
After the two years, DNO Tunisia AS can change the permit to a research permit.
This would mean that it will drill exploration wells / appraisal wells for a
period of four years.
Oslo, 24 October 2011
DNO International ASA
Corporate Communications
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DNO International ASA via Thomson Reuters ONE
[HUG#1557152]
Unternehmensinformation / Kurzprofil:
Datum: 24.10.2011 - 08:34 Uhr
Sprache: Deutsch
News-ID 79122
Anzahl Zeichen: 2130
contact information:
Town:
Oslo
Kategorie:
Business News
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"Agreement for license in Tunisia"
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