OMV, the international integrated oil and gas company based in Vienna, closed the sale of its 50% stake in the Ashtart oil field, an offshore field in the Gulf of Gabes, Tunisia, as well as OMV’s 50% stake in the operating company SEREPT to Perenco, an Anglo-French independent Oil and Gas Company. OMV´s average net production from Ashtart was 3,000 boe/d in 2016. The economic effective date of the transaction is January 1, 2016. The parties agreed not to disclose the value of the transaction. The remaining 50% stake in both Ashtart and SEREPT continues to be held by the Tunisian National Oil Company (ETAP), following the Transaction.
The divestment of the Ashtart field fits with OMV’s strategy to optimize its portfolio.
Corresponding to the overall investment climate OMV is committed to further invest into the development of resources in Tunisia and in particular in South Tunisia with the objective to increase production and reserves levels. OMV is working in the development of the Nawara concession within the Jenein Sud exploration area which contains a number of discoveries. (Source: OMV)