| Approval Date | 17 Mar 2010 |
| Signature Date | 08 Jul 2010 |
| Sovereign / Non-Sovereign | Non Sovereign |
| Sector | Power |
| DAC Sector Code | 23340 |
| Commitment | U.A 106,656,048.46 |
| Status | Completion |
A 5-year, non-sovereign guarantee, a USD 150 million corporate loan to the Entreprise Tunisienne d'Activités Pétrolières(ETAP), the Tunisian state-owned oil and gas exploration and production company, to support its 2009-2010 investment plan and mainly to finance the Hasdrubal oil & gas filed development project. The Hasdrubal project involves the construction of a stand-alone gas, condensate and oil production system located in the Gulf of Gabes, about 100 km offshore. It comprises six offshore horizontal producing wells, an offshore production platform, an onshore processing plant for production of natural gas and liquefied petroleum gas, an offshore gas pipeline, and an onshore pipeline to reach the STEG’s (the Tunisian electricity and gas national company) network.
By reinforcing Tunisia’s energy security, the project is of a strategic importance to the country. In addition; the project will also allow the government to generate additional revenues though royalties, dividends and taxes. The project will also improve the country’s balance of payments. Its economic rate of return is estimated at 19%
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Implementing
ENTREPRISE TUNISIENNE D'ACTIVITÉS PÉTROL
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Funding
African Development Bank
|
| IATI identifier | 46002-P-TN-FD0-004 |
| Last Update | 22 Mar 2023 |
| Name | Tarek Saleh Mostafa AMMAR |
| t.ammar@afdb.org |
| Country | Tunisia |
| Coordinates | Location Name |
|---|---|
| 34.6015 10.5883 | ETAP Hasdrubal Processing Plant |
| 33.83333 9.75 | Gouvernorat de Gabes |
| 34.549 10.481 | Mutamadyat al Mahras |