“Araifa” hydrocarbon exploration permit renewed for 1st time

Tunisia granted the Tunisian Company for Petroleum Activities (ETAP) and the YNG Exploration Limited company the first renewal of the hydrocarbon exploration permit called “Araifa” for a period of three years (from December 27, 2022 to December 26, 2025).

The renewed permit covers an area of 808 square kilometres, i.e. 202 elementary perimeters, according to the Official Gazette of the Tunisian Republic (JORT) number 23 of March 7, 2023.

YNG Exploration Limited is required within this framework, to honour all its contractual obligations consisting in the drilling of an exploration well and the carrying out of a 3D seismic acquisition agreed upon by mutual agreement between the ETAP and YNG Exploration Limited for a total minimum cost estimated at $8 million.

Source: Agence Tunis Afrique Presse