OMV closes the divestment of parts of its upstream business in Tunisia

Published by Aimee Knight, Editorial Assistant
Oilfield Technology, Monday, 24 December 2018 16:00

OMV has closed the previously announced transaction to sell its 100% owned subsidiary, OMV Tunisia Upstream GmbH, to a subsidiary of Panoro Energy ASA. The agreed purchase price is US$65 million.

OMV Tunisia Upstream GmbH holds 49% interests in the Cercina/Cercina Sud, El Ain/Gremda, El Hajeb/Guebiba and Rhemoura concessions in Tunisia and 50% of the shares in the Thyna Petroleum Services S.A. Operating Company (TPS). Other assets OMV currently holds in Tunisia are unaffected by the transaction.

The remaining stakes in the concessions and in TPS continue to be held by the Tunisian National Oil Company (ETAP).

OMV continues to be committed to Tunisia and the ongoing development of its hydrocarbon resources in south Tunisia, in particular the development of the Nawara Concession, involving gas field infrastructure and a pipeline from a central processing plant in the Concession to Gabes (approx. 300 km to the north).

Read the article online at: https://www.oilfieldtechnology.com/special-reports/24122018/omv-closes-the-divestment-of-parts-of-its-upstream-business-in-tunisia/

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