After years of decline in oil exploration, the government’s issuing of licenses returned to pre-2011 levels with the Ministry of Industry estimating them to stand at 30 licenses in addition to developing 13 wells.
The Tunisian parliament has lately approved six new exploration licenses and is planning to give the green light to three others.
Minister of Industry and SMEs Slim Feriani said that the government should attract foreign investors in the energy sector.
He called for liming the energy deficit and controlling consumption.
Habib Mahjoubi, an engineer specialized in geological surveys, affirmed that around 50 Tunisian areas have not yet been explored for potential oil and gas fields. Such areas are mainly located near oilfields and gas wells.
Tunisia has expected the Nawara Development Project to become operational by the end of this year.
The project will likely meet around 50 percent of Tunisia’s gas needs with a minimum production of 2.7 billion cubic meters. It will also likely provide around 17 percent of the needs of the Tunisian Company of Electricity and Gas, and reduce 30 percent of the country’s natural gas imports.
Tunisia’s oil production covers only 48 percent of its needs, which requires more exploration and a further reliance on renewable energy.
Commenting on the impact of world’s oil prices on the economy, Tunisian Economic and Financial Analyst Saad Bou Makhla said that each one dollar rise in one oil barrel, contributes to an increase in state budget expenditures of up to TND120 million (around USD 40 million).
Bou Makhla added that renewable energy can be exploited to guarantee a good share of Tunisia’s needs in clean energy.
