Tunisia: OMV to buy Anaguid, other Medco assets

By OGJ editors

OMV AG is acquiring PT Medco Energi Internasional Tbk’s Tunisian subsidiary for $58 million, giving OMV 100% stake in the Anaguid block in southern Tunisia and other interests.

OMV also acquires Medco’s 20% interest in the Durra production concession and 20% interest in Anaguid, giving it 50% in Anaguid in which Tunisia’s ETAP may take a 50% back-in at predevelopment stage. Closing is expected in a few months.

OMV had acquired Pioneer Natural Resources Co.’s Anaguid interests in February 2011.

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