Middle East Economic Survey

VOL. LIII

No 20

17-May-2010

TUNISIA

SacOil Signs Farm-In Agreement For Tunisias Chaal Permit

South Africas SacOil Holdings has entered into a farm-in agreement with Canadas Candax Energy to earn a 55% interest in the onshore Chaal permit in Tunisia, it said on 12 May. SacOil will pay 80% of costs related to the drilling of a sidetrack to the already drilled Chaal-1 well, up to a limit of $6.4mn, as well as pay Candax $3.6mn at the time a development plan for the field...