OMV has agreed to sell its OMV Tunisia Upstream GmbH subsidiary to Panoro Energy. Involved area a 49% stake in the Cercina/Cercina Sud, El AÃ¯n/Gremda, El Hajeb/Guebiba and Rhemoura blocks and 50% in the Thyna Petroleum Services S.A. Operating Company (TPS). The agreed purchase price is USD 65 MM, subject to closing adjustments, to be retro-effective 1 Jan â18. ETAP retains the balance in all rights. OMV retains the Nawara devt rights in S. Tunisia (ref. DEA 24 Feb â17).
Panoro will acquire 49% interests in the Cercina/Cercina Sud, El Ain/Gremda, El Hajeb/Guebiba and Rhemoura concessions from OMV for US$65 MM. The remaining stakes in the concessions continue to be held by Etap.