Tunisia: Oil Output Down On Political Delays

Tunisia’s oil output is down a quarter on pre-Revolution levels. Gas is down almost 10%. The latest filings by one producer give an indication why.

Swedish independent PA Resources is in the process of selling a 70% operator’s stake in its Tunisian offshore assets, including Zarat and Didon to EnQuest, a London-based firm whose focus has been on maximizing output at mature North Sea fields. PA will keep 30%. Although the deal was struck in May 2013, “due to the political situation in the country the transaction is still to be ratified by the Tunisian authorities,” PA says in its first quarter report. Closing the sale requires Tunisian parliamentary approval of an extension to its key offshore Zarat license in Tunisia’s Gulf of Gabes production heartland: “Despite previous assurances from the Tunisian authorities that approval is imminent, it is becoming clear that a favorable decision is not certain in the short term,” PA says. (CONTINUED - 932 WORDS)

DATA INSIDE THIS ARTICLE

table BG Tunisia Output (Net)