HPR: agreement on prospecting permit "Douiret" passed | Tunisia News Gazette

HPR: agreement on prospecting permit “Douiret” passed

The House of People’s Representatives (HPR) adopted the agreement and its annexes on prospecting, research and exploitation of hydrocarbons in Douiret on Monday in plenary session at the Bardo Palace.

The license was awarded to the Dutch oil and gas exploration and production company Mazarine Energy Tunisie B.V and covers an area of 4,240 km2 in the governorate of Kebili (southern Tunisia).

The agreement identifies the conditions and measures for the implementation of commitments and the execution of work on the above-mentioned field. The Dutch group exploration and production of oil and gas, is responsible under the contract, exploration expenditures during 2 years (duration of the permit).

Hela Cheikhrouhou, Minister of Energy, Mines and Renewable Energy, that oil production was stable from 1 January to 31 May 2017 to reach 44 thousand barrels per day and 5.8 million cubic meters of gas.

She added that the gradual closure of a number of pumping stations in southern Tunisia was responsible for the decline in the level of oil production to about 22 thousand barrels per day.

Sheikhrouhou stressed that the oil sector contributed to the revenue of the state budget for 2016 to 860 million dinars (MD), judging that this important contribution but below the amounts registered in 2010 and 2011.

The minister pointed out that foreign oil companies operating in Tunisia are of medium size and that the country’s oil production is not important, contrary to what some think of Algeria (1.3 million barrels), Iraq (5 million barrels), the US (9 million barrels) and Saudi Arabia (10 million barrels).

Regarding the increase in hydrocarbon prices, she said that the 2017 budget was based on an assumption of an average oil price of $ 50 per barrel and an average dollar exchange rate of 2.25 dinars while the price of a barrel reached during the first semester 2017, 52.5 dollars and the exchange rate of the dollar, 2.4 dinars which caused an increase of the subsidy of 650 MD to 1, 2 billion dinars, in 2017.

She specified that an increase of 100 millimes for gasoline and 90 millimeters for gasoil did not solve the problem which requires finding other solutions.

Source: TAP News Agency

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