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]
Khaleej Times reported that the Abu Dhabi National Energy Company will invest USD 2.5 billion into three electric power plants in Morocco and Tunisia over the next 4 years.
Mr Majid Iraqui MD of TAQA for North Africa and Middle East said that construction of the projects will begin sometime this year, while commercial operations will commence in 2012 and 2013, respectively.
The company is set to sign an agreement with the Morocco government to upgrade the Jore Lasfer Power Plant. It is also preparing its bid for a 300 megawatt wind farm in Tarfaya in Morocco in partnership with Spanish energy giant Iberdrola Ingenieria Construction.
The third project, currently in prequalification stage is a combined cycle gas power plant in Bizeerte, Tunisa, designed to generate 500 megawatts of electricity.
Mr Iraqui said that TAQA has enough surplus cash to finance the equity component of its planned projects this year. And with an AA rating and strong support of the host countries, financing will not be too difficult for TAQA.
He said that the company recently obtained an 18 year, USD 1 billion credit from Moroccan banks for its Jore Lasfer project.
Source [
Steel Guru]
