OMV announces new oil discovery in southern Tunisia

20/07/2006

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Central European oil group OMV revealed a new discovery and successful testing of oil and gas in its Nawara 1 exploration well in the Jenein Sud exploration permit for the second time this year in southern Tunisia on Wednesday (19 July).

Successful oil and gas discoveries in recent years have boosted major oil companies' interest in oil exploration in Tunisia. In order to stimulate the development of the hydrocarbon sector, the government plans to expand gas and oil exploration acreage to 138,000 square kilometres and issue more licenses for explorations. According to government officials, foreign companies will be allowed to prospect for oil and natural gas on 82 per cent of Tunisia’s territory. (Bloomberg)