Dublin-based exploration company Petroceltic International today announced it has signed agreements with Tunisia's government and state oil company to explore for oil and gas in the south of the country.
The 7,000-square-kilometre onshore area covered by the deal is known as the Ksar Hadada block.
Petroceltic has secured a 100 per cent interest in the block. The agreements provide for a 10-year exploration period and a renewable 30-year production licence for any commercial hydrocarbon discoveries.
Petroceltic's executive chairman, Mr Brian Cusack, said: "This a major step forward for Petroceltic and represents our first move into the prolific hydrocarbon basins of North Africa."