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PA revenue tripled by Tunisia output



By Upstream staff 

Sweden’s PA Resources today revealed a three-fold increase in revenue and profit for 2006 that it credits to an increase in production following the acquisition of the Didon field off Tunisia.

Group profit for 2006 amounted to $41.2 million, a jump from $11.2 million in 2005, while revenue increased to $132.7 million from $40.1million a year earlier.

Total production of oil and gas for the year stood at 1.96 million barrels of oil equivalent compared with 893,000 boe in 2005, while average daily production reached 5362 barrels of oil equivalent per day against 2252 boepd in the previous year.

“The acquisition of the remaining licence shares in the Didon field in Tunisia in the end of 2005 has given us a considerable rise in production,” said chief executive Ulrik Jansson.


Wednesday, 14 February, 2007, 07:31 GMT  | last updated: Wednesday, 14 February, 2007, 12:07 GMT

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