Libya/Tunisia: Sonde’s Viking farmout approved

Sonde Resources Corp., Calgary, said that the board of directors and general assembly of the Joint Oil authority have approved the assignments and amendment to the exploration and production sharing agreement required as conditions precedent to closing the farmout to Viking Exploration & Production Tunisia Ltd. for the Joint Oil block in the Mediterranean offshore Libya and Tunisia.

Sonde, Joint Oil, and Viking will meet soon to sign documents associated with the assignments and EPSA amendment. Thereafter, Sonde and Viking can proceed with closing the farmout.

Closing is subject to, among other conditions, a condition precedent that the previously disclosed $50.995 million bank guarantee, of which Viking is responsible for $40 million and Sonde for the remainder, must be fully funded prior to closing.

Toufic Nassif, president of Sonde North Africa, said, “Joint Oil’s approval of these agreements is a significant milestone on the path to closing the Viking farmout and pursuing the development of the Zarat field and exploration of the Joint Oil block” (see map, OGJ, Sept. 15, 2008, p. 50).

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin


CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal


FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected