The “Mateur” oil exploration license was awarded, Tuesday, to the Tunisian Oil Activities Company (ETAP) and Tunisian TOPIC Company.
Stretching over the Governorates of Bizerte and Beja, the license covers 5932 km². Nearly $ 500,000 will be invested by “TOPIC” in the exploration works.
Once the two-year validity of the exploration license ends, “TOPIC” can transform the exploration license into research license through an investment of $14 million.
The draft agreement was signed by the Tunisian State represented by Minister of Industry Mohamed Lamine Chakhari, on the one side and Messrs. Mohamed Toumi, Director General of “TOPIC” and Mohamed Akrout, CEO of “ETAP,” on the other one.