oil and gas

Energy: cancellation of oil exploration permits ''South Remada'' and ''Jenein Centre”

November 28, 2021

(TAP) – The hydrocarbon exploration permits 'South Remada' and 'Jenein Centre' (Governorate of Tataouine) held by the Tunisian Company of Petroleum Activities (ETAP) and the company 'ATOG Sahara Limited' were canceled from August 20, 2021, by decision of the Ministry of Industry, Mines and Energy, because of 'ATOG''s failure to meet its commitments to the Tunisian State.

The orders of the Minister of Industry, Mines and Energy of October 27, 2021, cancelling these two permits were published in the Official Gazette of the Republic of Tunisia (JORT) of November 23, 2021.

These orders specify that the company 'ATOG Sahara Limited' has not deposited the bank guarantee required for these two permits, after having purchased the shares of the company 'Medco Energy Oil and Gas Tunisia', despite the correspondence and formal notices that have been sent.

For the first permit, that of 'South Remada', the order of the Minister specifies that ETAP and the company 'ATOG Sahara Limited' are deprived of their respective rights from this permit and that the company 'ATOG' is also liable for compensation of $ 3.2 million, under the commitments of work not performed on that hydrocarbon exploration permit.

'ATOG Sahara Limited' is also required to restore the surfaces of the exploration permit, in accordance with the legislation and regulations in force and standards, and international agreements ratified by the Tunisian state.

Regarding the permit 'Jenein Centre', ETAP and the company 'ATOG Sahara Limited' have also been deprived of their respective rights from this permit.

The company 'ATOG Sahara Limited' is liable for a compensatory indemnity of 6 million dollars for the work commitments not carried out on that exploration permit and is required to restore the surfaces of the cancelled permit to their original state.


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