Middle East Economic Survey


No 13



AuDAX Signs Farm-Out Agreements For Tunisian Permits

Gulfsands Petroleum has acquired a working interest in two Tunisian exploration permits from AuDAX Resources, one onshore and one offshore, it said on 22 March. The company acquired a 40% interest in the onshore Chorbane permit in central Tunisia near Sfax, which covers an area of 2,428 sq km. The forward commitment will require the company to pay for 80% of the cost of the first...