Conoco Signs for Permit In Tunisia

Conoco of the US on 21 March signed an agreement with the Tunisian state oil company ETAP establishing a 50-50 joint-venture company, Conoco El-Hamma (Tunisia), to explore a 4,152 square kilometer onshore concession southwest of Gabes. The agreement is the first to be signed since the approval by parliament on 3 March of a revised hydrocarbons law offering improved royalty and taxation terms, more flexible development rules, and other incentives.