VIENNA, April 26 (UPI) -- Austrian energy company OMV said it is producing oil from its first well tied to operations acquired in February in Tunisia.
OMV took over operations at Tunisian production facilities as part of the acquisition of Pioneer Natural Resources Co. in February. The Austrian energy company said its first well tied to production facilities acquired during the acquisition, el-Badr 5, is producing 1,500 barrels of oil equivalent per day.
"The acquisition of the Pioneer assets in Tunisia has enabled us to meet our strategic objective to substantially increase our production and strengthen our presence in Tunisia," Jaap Huijskes, an exploration director at OMV said in a statement.
OMV won the rights to explore two fields in Tunisia for 30 years under the deal. The company said it plans to install temporary production facilities by the second quarter of 2011.
The company said it was winding down operations at mature fields in Romania and Austria with new growth expected from areas within the Caspian, Middle East and North African regions.
OMV started work in Tunisia in the 1970s and produces more than 6,000 barrels of oil equivalent per day from existing sites in the country.
