The European Investment Bank (EIB) signed, Monday, with the Austrian oil company OMV a loan agreement of MD 230 to allow operation of the concession “Nawara” south of Tunisia.
Signed during the holding of the conference “Invest in Tunisia, Start-up democracy,” the loan is the second EIB financing for this project.
Indeed, an initial funding contract of 150 million Euros for this project was signed in March 2014 with the Tunisian Enterprise for Petroleum Activities (ETAP).
The project involves the construction of a 370 km pipeline from Nawara to Gabes, a gas production plant in Nawara and a gas processing plant in Gabes.
This new infrastructure will help further exploit existing reserves and supply the local market in natural gas, while supporting other initiatives in the exploitation of hydrocarbons.
“The signing of this agreement is a positive signal for investment in Tunisia and highly symbolic for the Euro-Mediterranean partnership,” said Vice-President of the EIB, Philippe de Fontaine Vive.