No. 14



Agip Farms Out To Tullow And Teikoku In Illizi Basin Block

Italys Agip on 19 March farmed out to Irelands Tullow Oil and Japans Teikoku Oil (a subsidiary of Nippon Mitsubishi Oil Corp) for rights in the Illizi Basin block 222b, pending the approval by Sonatrach and the relevant Algerian authorities. The new partnership provides for Agip to be operator with 50% equity, along with Tullow (30%) and Teikoku Oil (20%).

Sonatrach awarded the 2,848 sq km Bordj Omar...