Awwal 15, 1432 H/Feb 18, 2011, SPA -- Austrian energy group OMV doubled its production in Tunisia by taking over oil and gas assets of US firm Pioneer for 839 million dollars on Friday, dpa quoted the company as saying. The closing of the deal comes just six weeks after president Zine el-Abidine Ben Ali was ousted in a popular revolt and a transition government took office. "The transaction was carried out in coordination with the Tunisian government," the Vienna-based company said, referring to the interim leadership. OMV acquired oil and gas production concessions of 5,700 barrel of oil equivalent per day (boe/d) and exploration concessions with 38 million boe of probable reserves. The deal raises the firm's production by 1.8 per cent and its reserves by some 3 per cent. Companies like OMV have trouble competing for major reserves with giants such as Britain's BP and therefore have to invest in minor oil production countries like Tunisia, said Ehsan Ul-Haq at the British energy consultancy KBC. -- SPA
