Petroleum Africa
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Tuesday, April 29, 2008
Sonatrach has entered into a deal that will give an Algerian-Tunisian joint venture (JV) dubbed Numhyd, a 25% stake in the Hamra perimeter, on Blocks 220a and 220b. Sonatrach did not offer any financial details in a report on its website; however, the company said that Numhyd is a 50/50 JV between Sonatrach and Tunisia’s ETAP.
The JV company will also be picking up a stake in a couple of Tunisian permits. Sonatrach reported that Numhyd would pick up a 30% stake in the Nord des Chotts perimeter. Numhyd and ETAP are also due to sign an accord with the Tunisian government for exploration on the Kaboudia offshore permit.
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