Panoro Monetises Its New Assets in Tunisia - Africa’s premier report on the oil, gas and energy landscape.

Panoro Monetises Its New Assets in Tunisia

Norwegian oil producer Panoro Energy ASA has lifted its first cargo of crude oil from the TPS assets in Tunisia.

Some 151,000 barrels of Rhemoura blend crude oil was lifted from La Skhirra Terminal in Tunisia in the first week of March 2019. “The pricing for this cargo was based on Rhemoura blend which is at a modest discount to Dated Brent in line with the differentials achieved in the recent past”, the company explains. “Panoro’s net participation in this lifting is 60%”.

Panoro had purchased 49% equity and operatorship of the TPS Assets from OMV, the Austrian player, in November 2018. It also purchased the 52.5% of the Sfax offshore Exploration Permit, from the same party: both for $65Million.

Current production of the TPS assets is around 4,000 barrels of oil per day.

Approximately 50 wells have been drilled in the TPS fields to date, whilst some of these wells have been abandoned, 14 remain on production with 5 wells currently shut-in awaiting workovers or reactivation. Two wells are used for disposal of produced water. Production facilities consist of the various wellhead installations, connected via intra-field pipelines to processing, storage and transportation systems. Crude is transported to a storage and export terminal about 70 km south of the Assets at La Skhira.

 

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