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04/07/2017 - 16:58hs

African bank funds oil project in Tunisia

The Africa Finance Corporation will lend USD 28 million to enable the start of production in the Halk El Menzel field, which is under concession to Tunisian company Topic.

São Paulo – The Africa Finance Corporation (AFC) announced this Tuesday (4) that it will provide funds of USD 28 million for the development of an offshore oil bloc in Tunisia. The area named Halk El Menzel is located in the Gulf of Hammamet, in the country’s Northeast region.

The bloc’s concessionaire is Tunisian company Topic. According to AFC, the loan will have a 30-month tenure and will allow the field to start producing oil in January 2018. The total cost of the project is estimated to reach USD 157.5 million.

AFC is a Pan-African financial organization based in Lagos, Nigeria.

*Translated by Sérgio Kakitani

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