On May 5, 2026, ENI Tunisia B.V. transferred all its rights in two Tunisian oil concessions, “Baraka” and “Maamoura,” to the foreign-registered company Tende Energy (Priadus).
The Tunisian state-owned ETAP retained a 51% majority stake in both concessions, in line with Tunisia’s hydrocarbons law.
ENI and Tende also carried out a swap of interests: Tende Energy took over Baraka and Maamoura in exchange for transferring its stakes in the Adam and Sabeh concessions.
Announced on May 14, 2026, Tende Energy’s acquisition of a 49% stake in ENI Tunisia B.V. marks a key milestone for the British group. Behind the deal is one central figure: Lotfi Fourati, General Manager of the Tunisian subsidiary, a trained geologist and a key architect of the company’s local integration.
A British group expanding across Africa
Founded in 2004 under the name Sirius Petroleum, Tende Energy plc is headquartered in London and now operates across multiple fronts in Africa. Listed on the JP Jenkins platform, the group has a market capitalization of around £106 million and clear ambitions: to acquire mature assets, reinvest in them, and build a diversified portfolio.
Its strategy is based on three pillars. Nigeria, with a 30% stake in the Abura field (OML 65), producing 10,000 barrels per day. Tunisia, where the group produces around 700 barrels of oil equivalent per day, mainly across three onshore permits in the Ghadames Basin, and holds the promising offshore Cosmos field (15 to 20 million recoverable barrels). Angola, with advanced negotiations to acquire offshore blocks.
Governance is ensured by an experienced board: Jack Pryde (Chairman), Bobo Kuti (CEO), Mark Henderson (CEO North Africa), and John McMurtrie (CFO).
The May 14, 2026 deal: a turning point in Tunisia
Tende Energy’s acquisition of 49% of ENI Tunisia B.V. strengthens its footprint in Tunisia, while ETAP retains its controlling 51% stake. Although the financial terms were not disclosed, the deal follows Tende’s 2023 takeover of ATOG Midco Limited.
CEO Bobo Kuti described Tunisia as “a strategic hub in North Africa,” highlighting the company’s long-term commitment to boosting local production and supporting energy security.
Lotfi Fourati: the geologist at the center of the transition
At the heart of this expansion is Lotfi Fourati, a geologist with over 32 years of experience, spanning Tunisia’s National Office of Mines and the private sector.
His career has closely mirrored Tende’s growth in Tunisia. Until 2023, he led ATOG (Anglo Tunisian Oil & Gas). When Tende Energy acquired ATOG in mid-2023, he was appointed General Manager of Tende Energy Tunisia, ensuring operational continuity and acting as the main liaison with Tunisian authorities and partners.
“Lotfi Fourati embodies the British–Tunisian dual culture that strengthens our subsidiary,” said Mark Henderson, CEO for North Africa.
A trusted voice in the sector
Known for his discretion and clarity, Fourati has long been active in energy-focused media. In 2020, he told African Manager: “We are ready to strengthen bilateral cooperation with Tunisia and enhance energy security.” In 2021, Africa Intelligence described him as a “key player in the Tunisian energy market.”
He later played a central role in negotiating the ENI–ETAP–Tende transaction, calling it a “win-win operation that allows Tunisia to better control its resources while attracting long-term investment.”
Outlook
With the ENI stake acquisition, Tende Energy is positioning itself as a significant player in Tunisia’s energy landscape. The key question now is whether it can mobilize the investment needed to develop the Cosmos field and boost production.
One thing is clear: Lotfi Fourati will remain at the center of that effort.
