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Thursday 23 September 2021
HomeNewsTunisia: Independent Resources reports on two-year extension of Ksar Hadada Licence

Tunisia: Independent Resources reports on two-year extension of Ksar Hadada Licence

Oil firm Independent Resources said it has received a formal notice from Tunisia’s Ministry of Industry, Energy and Mines inviting it along with the “Enterprise Tunisienne d’Activités Pétrolières” to submit a revised programme to cover the proposed extended period of the Ksar Hadada Permit for two years up to April 2016.

The Enterprise “Tunisienne d’Activités Pétrolières” has made an application for Independent Resources to be the operator of the licence with an interest of 86.3% of the product sharing contract for the period of this extension.

Greg Coleman, CEO of Independent Resources said :“We are pleased that DGE has acknowledged the difficult issues that we have been facing and we look forward to working closely with ETAP to make up for lost time and completion of the revised work programme. “

“We remain convinced that Ksar Hadada has the potential to be a significant hydrocarbon resource for the State of Tunisia and contribute to the company’s stated strategy to build a development led Exploration and Production business in the Mediterranean basin,” he added.

The Ksar Hadada exploration permit covers an onshore area of 2,252 square kilometers in south-east Tunisia.

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