25.9 C
Tunisia
Monday 14 June 2021
HomeNewsTunisia: Candax reports progress on several fronts

Tunisia: Candax reports progress on several fronts

Benoit Debray, CEO of oil company Candax, confirmed that “2011 was an important year for the development of the company on many fronts.” We are very pleased to be able to report a significant increase in our oil reserves and PV10 assessment. We are particularly encouraged by the development potential of our three core operating areas in Tunisia, Robbana, El Bibane and Ezzaouia, but also the untapped potential of our current non-operating assets. “
“In seeking to further develop our assets, we are pleased with the progress we have made in the consolidation and rationalization of the ownership structure of our assets. As previously announced, Candax bought interests in Dana Gas for deep Triassic resources. 
End of December 2011, Candax had signed an agreement for the purchase of operating interests in PA Resources in our El Bibane and Ezzaouia fields. In addition, as part of the investment by the IFC (a member of the World Bank focusing on private sector development), Candax has the option to purchase the remaining interest to work in El Bibane and Robbana, currently owned by Maghreb.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

MOST POPULAR

HOT NEWS