Algeria’s Sonatrach has transferred 25 per cent of its interest in the Hamra area to Numhyd. The area contains blocks 220a and 200b.
At the same time, Tunisia’s Entreprise Tunisienne des Activites Petrolieres (Etap) has transferred a 30 per cent stake in North Chotts.
A contract was also signed between Tunis, Numhyd and Etap for the exploration and development of offshore Kaboudia perimeter, located in the Gulf of Hammamet.
Numhyd was set up in April 2003 to strengthen relations and co-operation between Sonatrach and Etap and to ensure that no disputes develop over potential cross-border encroachment of each country’s natural resources.