By OGJ editors
HOUSTON, Feb. 16 -- Tunisia's state-owned ETAP has let a contract to PGS Geophysical AS, Lysaker, Norway, to acquire exclusive 2D and 3D seismic data in the Tyrrhenian basin, off northern Tunisia.
The shallow-water area, covering 25,000 sq km, is crossed by a fold thrust belt linking the North African Atlas and the Sicily Appennine, which contains giant Val D'Agri, Luna, Vega, and Gagliano fields in Italy.
The area will be the subject of oil and gas license offers in the fourth quarter.
Tunisia is attracting new entrants with the recent 2000 hydrocarbon law, favorable fiscal regulations, flexible licensing procedures, and a renewed emphasis on negotiating most terms.
The country also is providing opportunities for international direct investment due to its proximity to developed countries and its close ties with the European Union.