British Gas Tunisia Limited (BGTL), a wholly owned subsidiary
of BG plc, has sold its shareholding in Tunisian British
Services (TBS), and its interests in the Kerkennah West
permit and four associated concessions to Preussag Energie
GmbH of Germany.
The sale, which is subject to Tunisian government approval,
does not affect BGTL's 100 per cent interest in the offshore
Miskar gas field, which supplies up to 80 per cent of
the country's gas.
Frank Chapman, Managing Director of BG plc's Exploration & Production
division, explained: "This sale forms part of BG plc's
portfolio rationalisation programme and will enable both
BG plc and Preussag to focus energy on their specific
interests in Tunisia.
"We remain committed to our Tunisian interests in the
Amilcar and Ulysse areas, and will continue to play an
important role in the country's energy industry."
Preussag Energie, the largest oil producer in Germany
with strong international activities in the Mediterranean
region, South America, Central and South East Asia and
the Middle East, has been active in Tunisia since 1994.
The company currently operates the Djebel Oust and Maatoug
exploration permits and is a partner in the El Jem permit.
The sale involves BGTL's 50 per cent shareholding in
Tunisian British Services, its 34.3 per cent interest
in the Kerkennah West exploration permit, and its 49
per cent interest in four associated oil production concessions.
These four concessions include the offshore Cercina field,
and four smaller onshore fields. The remaining 50 per
cent in TBS and 51 per cent in the concessions is held
by the Tunisian state oil company, Entreprise Tunisienne
d'Activités Pétrolières (ETAP). BGTL's net oil production
from the fields averages 2,500 barrels per day.
The Kerkennah West permit covers 1,516 sq kms onshore
and offshore Sfax. Preussag Energie formerly held a 14.7
per cent interest; ETAP holds the remaining 51 per cent
interest.
Notes to editors
BG plc in Tunisia
BG plc, which has been active in Tunisia since 1988,
has offices in Sfax and Miskar is Tunisia's largest gas
field development and produces 80 per cent of its gas
demand. The field is located 125 kilometres offshore,
within the Amilcar Permit in the Gulf of Gabes. Gas from
the field is processed at the Hannibal plant, located
32 km south of the industrial city of Sfax. Regular gas
production began in June 1996.
British Gas Tunisia Limited is operator of the field
and holds a 100 per cent interest in the Miskar Production
Concession. The company has a sales contract with Société Tunisienne
de l'électricité et du Gaz (STEG), the Tunisian state
electricity and gas distribution company. STEG will purchase
up to 4.5 million cubic metres per day (mcmd) of gas
for the first five years of production and up to 5.7
mcmd thereafter.
The Miskar production concession covers an area of 352
sq km and lies under 62 metres of water. It is estimated
that the Miskar field will produce more than 20 billion
cubic metres of sales gas during its lifetime.
Amilcar Permit
The Amilcar permit is operated by BGTL and is held jointly
with the Tunisian state owned oil company ETAP (Entreprise
Tunisienne d'Activités Pétrolières). The permit covers
1584 sq km offshore in the Gulf of Gabes and contains
the Miskar gas field.
A successful exploration well, Hasdrubal-2, was drilled
in the Amilcar permit in 1994, and a second successful
appraisal well, Hasdrubal-3 earlier this year. Development
options for the gas are currently being considered.
The Ulysse Permit
The Ulysse permit, awarded in March 1997, covers 1912
sq km in the Gulf of Gabes. BGTL and ETAP each have a
50 per cent interest in the permit, which covers an initial
four year exploration period. The first exploration phase,
during which ETAP's share of costs is being carried by
BGTL, includes a 3D seismic survey and one exploration
well. |