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HomeNewsTunisia: OMV sees investment decision on Nawara gas project in weeks

Tunisia: OMV sees investment decision on Nawara gas project in weeks

Austrian oil and gas group OMV expects to make a final investment decision on an important Tunisian gas project in weeks, its head of exploration and production said on Thursday.

Development of the gas field in Nawara, Tunisia is the only project that still requires an investment decision out of a series of projects that are expected to help OMV reach a 2016 production target.

The field will have peak production of 10 000 barrels of oil equivalent per day (boe/d), or a twelfth of OMV’s targeted production hike of 40 000 boe/d. OMV has planned to invest about €500-million in it.

“We expect to take FID (final investment decision) there … that’s a matter of weeks, not months,” Jaap Huijskes told investors at a presentation in London monitored by Reuters by webcast.

David Latin, head of OMV’s operations in northwest Europe, Africa and Australasia, said “Nawara was the riskiest of the projects designed to come on stream by 2016. Tunisia is still a country where a lot can happen.”

It’s seemingly more stable now … but the potential for unrest to bog us down in some shape or form during construction is still there,” he added.

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