OMV to invest €500 million in Nawara gas field

OMV AG reported it will invest €500 million in Tunisia’s Nawara gas field development joint project with Tunisia’s state-owned ETAP.

OMV AG reported it will invest €500 million in Tunisia’s Nawara gas field development joint project with Tunisia’s state-owned ETAP.

The internal final investment decision for the project was taken in March. The project has received all necessary government approvals and contracts will be awarded in due course. The South Tunisian Gas Pipeline project and Nawara project have already been merged. OMV said construction will last 2-3 years.

The project consists of production facilities at Nawara well site, pipeline from Nawara to gas treatment plants to produce LPG products, along with commercial gas.

Production is expected to start in 2016 with peak production at 10,000 boe/d. OMV has five exploration permits and nine production licenses onshore and offshore Tunisia.

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