OMV makes key decision on Tunisian gas

VIENNA, May 30 (UPI) -- Austrian energy company OMV said Friday it was investing $680 million in the Nawara gas field development project in Tunisia.

"OMV is fully committed to investing in the development of resources in Tunisia to increase production levels and develop the reserves base," Jaap Huijskes, an executive member of the OMV board, said in a statement Friday.

OMV made the final investment decision alongside its partners at the Tunisian National Oil Co., ETAP.

The Austrian company said construction for the Nawara project, which includes a gas pipeline project, should take at least two years.

First gas production from Nawara is expected by 2016. It should have a peak production rate of around 10,000 barrels of oil equivalent per day.

Tunisia in January 2013 dispatched military forces to its border with Algeria to protect oil and natural gas installations. Militants aligned with al-Qaida in the Islamic Maghreb attacked the In Amenas natural gas facility in eastern Algeria that month, leaving several militants and hostages dead.