Oil and gas firm Dragon Oil has signed a deal to explore in Tunisia, expanding beyond its Turkmenistan asset base for the first time as part of a long-stated plan to add new projects to its portfolio.
The Dubai-headquartered company said on Monday that it agreed to acquire a 55 percent interest in the Bargou Exploration Permit off the coast of Tunisia in exchange for paying a proportion of well costs up to $26.6 million.
"This farm-in is part of our plan to build a portfolio of development and exploration opportunities in order to grow the group into a multi-asset company," said Chief Executive Abdul Jaleel Al Khalifa in a statement.
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