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OMV closes sale of partial Tunisian upstream assets

Dec 23, 2018
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Austria’s OMV said it has closed the sale of its whole-owned unit OMV Tunisia Upstream for US$65 million to a subsidiary of Panoro Energy- an Oslo-listed, London-based international independent oil and gas company.

OMV Tunisia Upstream GmbH holds a 49 per cent interests in the Cercina/Cercina Sud, El Ain/Gremda, El Hajeb/Guebiba and Rhemoura concessions in Tunisia and 50 per cent 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, OMV said in a statement. The remaining stakes in the concessions and in TPS continue to be held by the Tunisian National Oil Company (ETAP).

OMV said it 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).