OMV invests EUR 500 mn in Tunisia in a project together with ETAP

abarrelfullabarrelfull wrote on 02 Oct 2014 13:04

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Nawara project underlines Tunisia’s significant role in OMV’s portfolio. Tunisian Minister of Industry, Energy and Mines, Kamel Ben Naceur, the Chairman of the Tunisian National Oil Company ETAP, Mohamed Akrout, and Jaap Huijskes, OMV Executive Board member, jointly pave the way to implement Tunisia’s key energy infrastructure project.

Jaap Huijskes, OMV Executive Board member responsible for Exploration and Production: "OMV and our Tunisian partner ETAP have achieved substantial milestones to implement the Nawara gas field development project. This huge energy project creates a win-win opportunity for all business partners as well as the local communities, and it receives the highest level of support from the Tunisian Government. OMV is fully committed to investing in the development of resources in Tunisia to increase production levels and develop the reserves base. We are proud to be a trusted partner to Tunisia in further unlocking the country’s domestic energy resources".

The internal final investment decision (FID) for the Nawara project was taken in March 2014. The project has now received all necessary Government approvals and contracts will be awarded in due course. The South Tunisian Gas Pipeline project and Nawara project have already been merged.

The Nawara project is a key strategic infrastructure project for Tunisia, enabling South Tunisia’s gas resources to be unlocked. Construction works will last two to three years, creating approximately 200 permanent jobs in addition to several hundred jobs during construction phase. For OMV this joint project with ETAP is a substantial part of its growth strategy in Tunisia and in line with its aim to grow upstream and achieve a balanced international portfolio.

The project consists of the following elements: production facilities at Nawara well site, pipeline from Nawara to gas treatment plants to produce LPG products and commercial gas.
The first production of gas is expected to start in 2016 with peak production of around
10,000 boe/d. Expected OMV investment in the project is around EUR 500 mn.

OMV currently has five exploration permits and nine production licenses onshore and offshore Tunisia.

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