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Sources in the oil sector said that “Royal Dutch Shell” and “Eni” are seeking to sell their oil and gas operations in Tunisia, at a time when Tunisia is facing difficulties in attracting new investments.
The sources told “Reuters” that “Shell” has appointed the investment bank “Rothschild & Co.” to sell its Tunisian assets, which include two offshore gas fields and an onshore production facility, which the Anglo-Dutch company bought as part of its acquisition of BG Group for $ 53 billion in 2016. .
Shell sought to sell its Tunisian assets in 2017, but abandoned the process due to legal disputes with the Tunisian government.
Shell and Rothschild did not respond to requests for comment, and Eni declined to comment.
According to the sources, Eni, which has been operating in Tunisia since 1961, has appointed the investment bank Lazard to handle the sale.
Eni produced about 5,500 barrels of oil equivalent per day in Tunisia in 2019 and has nine oil and gas concessions and one exploration permit in Tunisia, according to its website.
The gradual exodus of major Western energy companies from Tunisia in recent years follows the growing frustration with the instability of the regulatory and political climate in the country since the 2011 revolution, which led to the depletion of investments.
This displacement also comes at a time when the world’s largest oil and gas companies seek to sell tens of billions of dollars in assets to reduce debt and focus on more competitive production.
The sources said that the Austrian energy company “OMV” also intends to sell what remains in its oil and gas portfolio in Tunisia, after it gradually reduced its presence in the country.
The Tunisian Energy Ministry told Reuters that it had not been formally informed that these companies would sell their assets.
In 2018, OMV sold most of its portfolio in the country to the Oslo-listed “Panoru Energy” for $ 56 million, and its annual report states that it produced about 4,000 barrels per day of oil equivalent in 2019.
OMV and the Tunisian National Oil Company had started last year the Nawara gas field, which is the largest project in the country in recent years, which is set to raise the production of “OMV” by 10 thousand barrels per day of oil equivalent to reach Its climax, according to the company.
Last November, the CEO of Mazarin Energy said the company backed by private equity giant Carlyle Group was also seeking to sell up to half of its stakes in its oil exploration licenses in Tunisia to accelerate its development.
Source: Reuters
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