Tunisian government data revealed that energy import costs have witnessed an increase of 45%, standing at $2.5b, since 2010. According to Bloomberg, Tunisia’s oil production slashed over the period of six years by about 25%, reaching 63,000 b/d last year.
In 2016, international oil companies (IOCs) have relinquished investments in the country as a result of political protests and strikes across the country.
In essence, Minister of Energy and Mines, Mongi Marzouk, said in an interview: “Exploration, research, and development of the hydrocarbon sector witnessed a significant decline in recent years, mainly due to social unrest and political instability.” He further noted that investments are also influenced by the situation as well as the fall of oil prices which worsened the case.
Additionally, the country’s fragile economy also affected energy production in Tunisia. Only one exploration well has been drilled in the North African state this year, instead of the eleven initially planned.