Tunisia plans to redevelop oil and gas exploration and production (E&P) activities after years of decline, Asharq Al-Awsat reported.
Under the initiative, the increased activity saw 30 exploration licenses being granted and the development of 13 new wells, according to the Tunisian Ministry of Industry. Moreover, the Tunisian Parliament has approved the issuance of six new licenses and is in discussions over another three.
The Tunisian government is working on attracting international investments to E&P in the country, according to Salim Al-Feriani, Tunisian Minister of Industry and Small and Medium Enterprises.
In addition, Tunisia plans to narrow down energy deficiency and control consumption in a way that will reduce governmental subsidies, Al-Feriani added.
On the other hand, Nawara Gas Project, which is one of the most important natural gas fields, is expected to be exploited during 2019 and cover around 50% of Tunisia’s natural gas needs.
Daily Tunisian production of crude oil nears 42,000 barrels per day, which covers only 48% of domestic demand.