OMM, GAS provide ROV services for Tunisia project

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BRISTOL, UK -- Offshore Marine Management (OMM), through its partnership with Geological Assistance and Services (GAS), has provided ROV services for the Baraka project in Tunisia.

The project required a barge-based vehicle spread incorporating ROV excursions of up to 400 m (1,312 ft) from the launch position and barge’s moored location(s). Operations involved de-burial, visual inspections, TDP, valve operations, pig detection, and other subsea construction support tasks with all associated tooling.

Source [offshore-mag]


Pioneer Natural Resources Reports Second Quarter 2009 Results

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"The improving outlook for oil prices, coupled with our strong derivative positions, provide confidence in achieving cash flow of approximately $1 billion in 2010. As a result, we are preparing to resume an oil-focused drilling program with strong returns in the Spraberry field and Tunisia at the beginning of 2010. Additionally, we will continue our successful oil development program in Alaska and actively assess the resource potential of the Eagle Ford Shale play. This drilling program and the expiration of our 5 MBOEPD volumetric production payment obligation at the end of 2009 are expected to once again generate a quarterly production growth profile starting in the first quarter of 2010."
Daily production in Tunisia increased 29% compared to the first half of 2008. Drilling has been curtailed until early 2010 when new 3-D seismic will be fully processed.
The Company's third quarter effective income tax rate is expected to range from 40% to 50% based on current capital spending plans, higher tax rates in Tunisia and no significant mark-to-market changes in the Company's derivative position. Cash taxes are expected to be $5 million to $10 million and are primarily attributable to Tunisia.

Source [Trading Markets]


Tunisia: New oil deposit discovered at El Borma oil field

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Tunis, June 17, 2009- A new gas and oil deposit was recently discovered at El Borma’s “407″ oil field. It is estimated to have a capacity of some 10,000 barrels per day.

The number is likely to double following completion of works currently underway. This new discovery has required investments worth 20 million dinars.

According to 2007 figures, Tunisia’s oil production reached 6, 7 million tons per year. In 2004 it represented 3, 4 million tons. This increase is due to the finding of oil reserves in the south of the country, as well as offshore.

Even if the country’s oil production has increased, it remains below domestic consumption. In 2005 domestic consumption reached 53, 7 million barrels as opposed to a production of some 50 million barrels.

However the new finding in addition to other projected ones, is likely to help bring down the deficit generated by oil imports.

Tunisia’s south ensures most of the country’s production. In 2005, the region of Ghedames produced a number of small deposits such as those of “Dalia”, “Nour”, “Hawa” and “Adam” which totalled a production of some 70,000 barrels per day.

In 2006, the offshore site dubbed “Oudna” started production. According to the online economic news website “webmanagercenter”, it should reach a cruising speed of 15,000 barrels per day. “Oudna” which necessitated investments worth 130 million dollars, was attributed respectively to “Lundlin”, a Swedish company and the Chinese “Atantis”. It is the country’s 7 th operational offshore site.

This year the Ministry of industry, energy and small and medium enterprises has decided to increase the number of prospecting (57) and oil drilling (15) permits. Plans are also afoot to build a second oil refinery at Skhira in partnership with a Qatar- based company.

Via [Tunisia Online News]


German offshore companies in Tunisia doing well on the whole

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Tunis, June 23, 2009- An annual survey carried out by the Tunisian German Chamber of Commerce and Industry was presented to the press in Tunis on Tuesday.

The survey shows that garment and textile sector continues to represent the bulk of German investments in Tunisia, with 61% of German offshore companies operating in the sector.

The second most important group of German exporting companies is made of electronic industries (28%).

Business wise, 61% of German companies operating in Tunisia say they have recorded positive results, however 61% also project a decrease in export profits in 2009 (15% in 2008).

A third of the companies surveyed are tabling on a stable or positive outlook for 2009.

Concerning Tunisia’s business environment, most of the companies surveyed, stress the country’s social and political stability, fiscal incentives and geographic proximity.

Insofar as improvements are concerned, they evoke the low productivity of workers, administrative rigidity and the non availability on the market of certain qualifications.

German offshore companies also wish for a strengthened economic exoneration, the modernization of the administration and the improvement of infrastructure in the sectors of ICT, transport and banking.

Via [Tunisia Online News]


Tunisia: PETROFAC to build Skhira oil refinery

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Tunis, June 24, 2009- The daily Le Temps reports in its issue dated June 24, 2009, that the British energy and engineering group, PETROFAC will build and operate the Skhira oil refinery project. According to rough estimates investment costs will range from 500,000 dollars to 1 billion dollars.

Following the withdrawal of “Qatar Petroleum,” PETROFAC which is involved in major projects in Tunisia such as the Oudhna station and the Hasdrubal gas field, has launched fresh studies for an eventual partnership with Tunisia for the building of the Skhira oil refinery which should have a capacity of 120,000 barrels per day.

In an interview to Le Temps, PETROFAC’s Chief Executive Officer, Mr Amjed Bseisu, said that Tunisia’s business environment, fiscal advantages and incentives and the absence of bureaucracy, are some of the assets which prompted the group to invest in the country.

Via [Tunisia Online News]


Tunisia to double gas imports from Algeria

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Tunis, July 4, 2009- Tunisia will double its gas imports from Algeria and will consequently increase its royalties for the gas transport on its territory of the Transmed gas pipeline (also known as the Mattei gas pipeline) which carries Algerian gas to Italy , said a government source in Tunis.

Imports of Algerian liquefied gas will increase from 150,000 to 300,000 par year following the signing of an agreement on Thursday between the Tunisian Minister of energy and his Algerian counterpart.

An agreement concluded between Algeria’s Sonatrach and the Tunisian Enterprize of petrol activities (ETAP) will boost Tunisia’s gas royalties from 6 to 7 billion cubic meters per year.

Algeria’s Minister of energy said that the agreement will enable Tunisia to cover its needs in gas, as well exporting part of it to Europe. He also expressed his country’s commitment to set up a Maghrebi electricity market which will aim at exchanging this type of energy at a lower cost.

On July 2, 2009, Tunisia and Algeria signed a number of agreements in the sector of energy aiming at strengthening energetic cooperation between the two countries.

The Tunisian section of the Transmed gas pipeline is 370 km long; it is owned by the Societe Tunisienne du gazoduc Trans- Tunisien and is run by Sergas.

The 155 km offshore section across the Channel of Sicily is operated by a joint venture (TMPC) between Algeria’s Sonatrach and Italy’s Eni.

Via [Tunisia Online News]


Light crude discovery in Remada Sud

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TUNISIA. Oil companies Cygam Energy and Madalena Ventures just announced preliminary results of tests on production of the deposit Remada South, south of Tunisia.

The discovery of light oil was evaluated by an independent engineering firm. It confirms the presence of a mature and efficient source of hydrocarbons associated with an additional chance of success, and several other prospects identified on the block, says the company.

Test equipment were installed to start the work of production test.

At present, the production well is 230 barrels per day. The oil is transported by truck to the oil terminal The Skhira.

The evaluation plan includes an ongoing study in 3D and tests for six months. This crucial phase will develop a development plan to be submitted to the Tunisian authorities in late 2009.

The concession Remada South is located in the Ghadames basin, near the Libyan border. Cygam holds 14% interest and 15% Madalena Ventures.

Source [EcoNostrum]

Via [Houeida on Twitter]