Tunisia: Gulfsands relinquishes Chorbane
Issue 352
- 11 Aug 2017
| 1 minute read
Gulfsands Petroleum has opted not to extend the Chorbane production-sharing contract, which was due to expire on 1 July. An initial two-year extension was granted in 2015, but the terms were disputed with Entreprise Tunisienne d’Activités Pétrolières. Gulfsands said that since its strategy realignment in 2015, Tunisia does not fit its stated strategy, so continuing involvement depended on finding a partner that could help the company take the Chorbane project forward.
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