Tunisia

The Tunisian projects are important part of the company's portfolio. Tunisia is characterized as a stable country with a favorable investment climate for the oil and gas industry and proximity to European markets. The country has got developed infrastructure with significant but insufficiently explored oil and gas potential.

The Group has two registered branches in Tunisia for exploration and subsequent production of oil and gas. Three joint venture agreements have been signed with the Tunisian state company ETAP for joint exploration, development, and production of hydrocarbons in the ARAIFA, NEFZAOUA, and BIRABDALLAH blocks.

The authorization for the ARAIFA block entered into force on December 27, 2013, and is valid until December 26, 2026. Work is underway to extend the license validity period by 2 years.

The authorization for the NEFZAOUA block entered into force on December 22, 2017, and is valid until December 21, 2025. Work is underway to extend the license validity period by 1 year.

The authorization for the BIRABDALLAH block entered into force on July 22, 2022, and is valid until July 21, 2026.