BG Group to invest in Tunisian oil and gas production

8 April 2011

The BG Group has revealed its plans to invest some $300 million (£180 million) in Tunisia this year.

Reuters reports that the British-based oil and gas firm plans to increase its exposure in the North African country by developing its existing energy production sites.

BG Tunisia is the operator of an exploration permit offshore Sfax and pipes oil and gas throughout Tunisia, supplying more than 50 per cent of the country's domestic gas.

Sami Iskander, executive vice-president and managing director of BG, Africa, Middle East and Asia met prime minister Beji Caid Sebsi to discuss ways to attract more investment in Tunisia, the news provider explained.

Mr Iskander said that the situation in some Tunisian production sites had improved following recent industrial action.

Meanwhile, BG Tunisia recently signed an agreement with communities living near its sites under which it pledged to create 120 jobs as well as establish a fund of $2 million in 2011 for social investment and micro-credit initiatives.

Category: Energy