Malta and Tunisia to Develop Oil Together

Wednesday, March 1, 2006

Malta and Tunisia signed an agreement providing for joint oil development of the continental shelf located between them, settling a 35-year-old dispute, the Maltese government has confirmed.

The agreement was signed in Tunis between Maltese Foreign Minister Michael Frendo and Tunisian Minister of Foreign Affairs Abdelwaheb Abdallah. Frendo described the agreement as a major breakthrough in an issue that has been unresolved for the last 35 years. He said he was confident that, taken forward, it would open up tremendous opportunities for oil exploration and exploitation between Malta and Tunisia.

Pancontinental Oil and Gas NL of Australia and Anadarko International Energy Company of Houston, Texas, both have offshore licenses in Malta’s exploration areas near the Isis Field in Tunisian waters and the Bouari field offshore Libya.

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