Gulfsands ups stakes in Mediterranean permits

Offshore staff

LONDON – Gulfsands Petroleum has reached an agreement to acquire further interests in the Kerkouane exploration permit offshore Tunisia and in the Pantellaria (G.R15.PU) permit offshore southern Italy.

Sellers are ADX Energy, XState Resources, and Verus Investments.

Following completion, Gulfsands will have a 40% interest in both licenses, with ADX retaining 60%.
G.R15.PU is off the island of Pantelleria, southwest of Sicily, and is adjacent to Kerkouane.

Gulfsands is re-evaluating existing 2D and 3D seismic acquired ahead of a commitment well, which must be drilled before February 2014.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...