OIL, GAS EXPLORATION/DEVELOPMENT ACTIVITY PICKING UP OFF TUNISIA

Exploration and development is gathering momentum off Tunisia. British Gas plc this month started work on a 492 million ($738 million) gas field development project in Tunisia that will help the country become self-sufficient in natural gas. Meantime, a 50-50 combine of operator Union Texas Petroleum Holdings Inc. and Louisiana Land & Exploration Co. has signed an oil and gas exploration permit off Tunisia.

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