Petroleum Africa
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Monday, October 28, 2013
As the security situations in North Africa’s top three producers continues to trouble international oil and gas firms, the small North African country of Tunisia is revealing itself to be a reliable place for a company to produce from. One of the reasons Tunisia is proving more reliable is it pays its fuel bills on time according to Michael Rees, BG’s president in Tunisia in a Bloomberg interview. Rees was alluding to the fact that Egypt is significantly behind on its payments to foreign producers.
“The ability for Tunisia to continue to honor its contracts and to continue to pay for its energy supplies is fundamental for BG’s continued appetite,” Rees said. He went on to say “Unlike Egypt, where there are lots of challenges in terms of payments and in terms of renegotiation of contracts, this stability is needed because it’s a tough place geologically to invest.”
BG is the largest gas producer in Tunisia, supplying 60% of its natural consumption, from its offshore Hasdrubal and Miskar fields, in the Gulf of Gabes.
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