MADRID - Wednesday, October 12th 2011 [ME NewsWire]
(BUSINESS WIRE)-- The President and CEO of the National Oil Company of Tunisia (ETAP), Mohamed Akrout, says Tunisia has maintained an image of a safe investment region in the post-Arab spring era by maintaining a good relationship with all investors in the oil & gas and the energy sector. Mr Akrout is one of several North African leading oil and gas decision makers who will address current and prospective investors in the industry at the upcoming North Africa Oil & Gas Summit in Madrid from 25-27 October (www.northafricasummit.com).
Ambitious development plans for Southern Tunisia
According to Mr Akrout, Tunisia saw only a small impact on their exploration and production activities in 2011. He continues: “the minimal disruption was an important factor for successful acquisitions such as OMV’s acquisition of Pioneer Resources that took place earlier this year.” According to Mr Akrout, ETAP is currently finalising an ambitious drilling program with OMV, aiming to develop and maximize recent discoveries in Southern Tunisia.
Frontier and unconventional plays as a driver for future developments
Tunisia has achieved an important milestone by awarding most of the Northern Offshore Tunisia to two major oil companies, an area considered as a frontier area, located in deep water.
Mr Akrout adds: “We have started to explore deep water in the Mediterranean Sea by acquiring a new seismic program; we will be focusing with our partners on exploring at depths never before reached. We need to keep that ‘’Can Do’’ attitude to succeed. We believe that 70-dollars or more per barrel of oil remains economic and attractive for all players active in this region.”
Update on STGP
On the South Tunisia Gas Project (STGP), which entails the construction of a gas receiving station located in the Tunisian sahara, Mr Akrout says “a 320km pipeline of 28” that will transport raw gas from the south to a gas treatment plant (GTP) is to be built near Gabes town located in Southeastern Tunisia .”
He explains: “the initial treatment capacity is 4.4 Millions S m3/day, (about 155 MMCFGPD); the pipeline could reach the capacity up to 10 Millions S m3 /day, (about 350 MMCFGPD). A consortium composed by Eni, OMV and ETAP has been created to manage the project that is presently in feed phase.”
Mr Mohamed Akrout will be sharing his expertise with attendees of the North Africa Oil & Gas Summit on Thursday 27 October 2011. He will be discussing the latest regional developments – technology showcases, new projects and future licensing rounds.
Contacts
interviews and media accreditation:
Communications manager: Annemarie Roodbol
+27 21 700 3558 or
annemarie.roodbol@clarionevents.com
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