PA Resources Tunisia Ltd., Hydrocarbures Tunisie Didon Ltd., Hydrocarbures Didon Jersey Ltd. and Hydrocarbures Tunisie Corp., subsidiaries of Sweden’s PA Resources AB, will sell their license interests onshore and offshore Tunisia.
They executed a sale and purchase agreement with ETAP, Tunisia’s national oil company, PA Resources said May 9.
The sale is subject to customary government consents, but PA Resources does not anticipate any issues, given the identity of the buyer.
The consideration for the sales is cash and the amount is confidential, however once received, it will be disbursed in accordance with the provisions of the Composition Plan adopted by Stockholm District Court on Oct. 2, 2015, which became final and binding on Oct. 24, 2015.
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