Chinook Energy Inc completed the sell of its assets in Tunisia

Chinook Energy Inc (Chinook) reported on 19 August 2014 that it completed the sale of its Tunisian assets to Medco Tunisia Petroleum Ltd (Medco), a subsidiary of PT Medco Energi Internasional Tbk effective 1 January 2014. The deal was initially planned to be completed by December 2014.
On 15 June 2014, Chinook’s subsidiary Storm Ventures International signed an agreement with Medco to sell all of its interests in Tunisia for USD 127.7 million.
Chinook, through its local subsidiary had interests in eight permits: four development leases namely,
Adam (5%), Cosmos (op, 80%), Yasmine (100%), Bir Ben Tartar (op, 86%); and four exploration contracts namely, Sud Remada (op, 86%), Borj El Khadra (5%), Hammamet Offshore (op, 35%), Jenein Centre (op, 65%).
Indonesian PT Medco Energi has interests in Indonesia, Oman, Yemen, Lybia, Papua New Guinea andGulf of Mexico.

DNO Tunisia to start the spud in Sfax offshore

According to our trusted sources, DNO Tunisia, will start the spud at the Sfax offshore exploration permit this weekend, further details coming very soon.

The 1.0-million-acre Sfax Offshore Exploration Permit is located within a hydrocarbon fairway that trends from offshore Libya, through the Gulf of Gabes, to onshore Tunisia and includes several major oil and gas fields. The Sfax permit is bordered by producing oil and natural gas fields to the west, north and east, including the 330-million-barrel Ashtart oil field adjacent to the southeast boundary. Over the past 40 years, previous operators drilled and flow-tested oil from three separate structures on the Sfax permit at daily equivalent rates of 600, 1,200 and 1,800 barrels of oil per day. At that time, the operators considered these structures sub-economic and the wells were abandoned.

Tunisia seeking investors for USD6.8bn in infrastructure projects

GAMMARTH, Tunisia, Sept 8 (Reuters) - Tunisia is seeking foreign investors for $6.82 billion worth of infrastructure and development projects, as the government tries to prop up its faltering economy.
"We have a 22 projects in many sectors, including energy, tourism, transport and infrastructure which we will propose to foreign investors present in Tunisia", said Nidhal Ouerfelli, Tunisia's secretary for economy affair. They include projects for the construction of dams and port in the city of Ennfidha.
Tunisia will hold its second free election next month, three years after expelling an autocratic regime. Its exercise in democracy is being praised as a model of political compromise in an unstable region.

But a successful transition to democracy depends on stability and economic recovery, Prime Minister Mehdi Jomaa told an investment conference on Monday. The government cut its forecast for economic growth for the third time this year on Thursday, from 3 percent to between 2.3 and 2.5 percent.

Its budget deficit is set to reach 8 percent of gross domestic product this year, mostly because of wage costs for public workers and subsidies left over from the rule of ousted leader Zine El-Abidine Ben Ali. ($1 = 1.7607 Tunisian dinars) (Reporting By Tarek Amara; Editing by Larry King) ((tarek.amara@thomsonreuters.com;))
Keywords: TUNISIA INVESTMENT

TUNIS, (TAP)- The European Investment Bank (EIB) and Austrian oil and gas company OMV inked, Monday, a 230MTD loan agreement to develop the Nawara gas field, southern Tunisia.

  The agreement was signed on the sidelines of the Forum "Invest in Tunisia, Start-up Democracy;" this is the second loan extended by the EIB to fund this project.
A first financing contract worth 150 million Euros was signed, last March, with the Tunisian Oil Activities Company (ETAP).

The project consists in building a 370km gas pipeline from Nawara to Gabès, a gas power plant in Nawara and a gas processing facility in Gabès. This new infrastructure will help further tap existing reserves and supply the local market with natural gas, while welcoming other initiatives in the exploitation of hydrocarbons.

"The signing of this agreement is a positive message for investment in Tunisia, in addition to being highly symbolic for the Euro-Mediterranean partnership," said EIB's Vice President Philippe de Fontaine Vive. © Tunis-Afrique Presse 2014

Holders and niches to enter sectors to invest in Tunisia

If Tunisia aligns key sectors open to investment, it does not fail as profitable niches, all in a supportive environment and based on a clarified sector policy. This is what the government is proposing in sector paper presented at the International Conference: Investing in Tunisia. In detail, the document given to the participants back on every sector, but this time with a fresh perspective and real opportunities highlighted.

Among the niches to consider two major projects: the valuation of gypsum in Tataouine and the creation of an integrated industrial and recreational maritime cluster.

You can downloda the full report from here (French)

Tranlated from french from Leaders.

OMV: “Nawara Development Project on schedule” (press release)

Bidding process completed for 370 km Tunisian pipeline  Major contracts awarded, project relies on Tunisian partners The Nawara gas field development project in Tunisia is proceeding as scheduled, and the bidding process has now been completed, relying on Tunisian partners. The Nawara gas field development project is a 50/50 joint venture between the Austrian integrated oil and gas company OMV and the Tunisian National Oil Company ETAP (Entreprise Tunisienne d'Activités Pétrolières) that will produce Tunisian gas for the Tunisian market. Commencing with an initial phase of nine drilled wells, the target is to reach a peak production of around 10.000 boe/d, providing more than 10% of Tunisia’s total gas requirements, while helping reduce the country’s dependency on imported gas. The one-billion-euro project entails the construction of a 370 km gas pipeline, stretching from the Central Processing Facility in Nawara, Southern Tunisia, to the eastern coastal city of Gabès. Gas treatment plants will ensure distribution to the Tunisian market. “Unlocking additional gas resources in Southern Tunisia will have a very positive impact on the Tunisian economy. With regards to contractors, we have taken great care to ensure that the qualification and tender process has been fair and transparent. Bidding has been completed in strict accordance with international law,” said OMV Executive Board Member Jaap Huijskes. A significant number of contracts have been awarded to local companies. Two of the three main project elements are to be completed via a German-Tunisian joint venture between Bouchamaoui Industries and Max Streicher GmbH, who  are constructing the central Processing Facility and pipeline; while the gas treatment plant in Gabès is being built by ABB Italy, partnering with the local Tunisian construction company CERI (Compagnie Eurafricaine de Réalisations Industrielles). The line pipe procurement contract has been awarded to Greek operator Corinth; while the line valve procurement has been contracted to British firm LFF. ETAP is progressing the 12-inch spurline and the Processing unit of Tataouine. Engineering is now at an advanced stage. The Processing Facility site in Tataouine is identified and call for bids for the spurline and Processing Facility in Tataouine material purchases and fabrication contract will soon be launched. Moreover, the joint-venture relies on various essential local partners including STEG (Société Tunisienne de l’électricité et du Gaz); STIR (Societe Tunisienne des Industries de raffinage); TRAPSA (Compagnie de Transport par Pipe-Line au Sahara); and SNDP (Societé Nationale de Distrubtion des Pétroles). Commercial gas will be delivered to STEG’s national commercial gas grid, at Gabès; and liquefied petroleum gas (LPG) products (propane and butane) to STIR via the SNDP Storage Facility, also at Gabès. Transport and storage of condensate will be handled by TRAPSA. An environmental impact research taking into consideration the special environmental, ecological and social impact of the region has also been developed and approved by the National Agency for Environmental Protection (ANPE)    “This project is crucial to our growth in Tunisia,” said Jaap Huijskes. “We expect to create more than 1,000 temporary jobs and some 200 permanent jobs, bringing vital employment and investment to the country’s southern region. Tunisia plays a significant role in the history of OMV, and we are committed to further long-term investment, particularly in the south of the country.” Background information: OMV Aktiengesellschaft With Group sales of EUR 42.41 bn and a workforce of around 27,000 employees in 2013, OMV Aktiengesellschaft is Austria’s largest listed industrial company. The Exploration and Production business segment has a strong base in Romania and Austria and a growing international portfolio. 2013 daily production stood at approx. 288,000 boe/d. In Gas and Power, OMV sold approximately 425 TWh of gas in 2013. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany with a capacity of 2.6 bcm. In Refining and Marketing, OMV has an annual refining capacity of 17.4 mn tonnes and as of the end of 2013 approximately 4,200 filling stations in 11 countries including Turkey.