HPR: bill approving agreement governing hydrocarbon exploration license "Nefzaoua" passed | Tunisia News Gazette

HPR: bill approving agreement governing hydrocarbon exploration license “Nefzaoua” passed

Members of the House of People’s Representatives (HPR), meeting in a plenary session on Monday, adopted the bill approving the agreement and its annexes governing the permit to search for hydrocarbons known as “Nefzaoua” By 109 votes to 10 with 12 abstentions.

Minister of Energy, Mines and Renewable Energy Hela Cheikhrouhou said that only three oil wells have been drilled in the last three years against the drilling of more than 15 exploration wells and development each year before 2011. The regression of the number of wells results from the new provisions introduced on the hydrocarbon code to bring it into conformity with the constitution.

The Minister asserted that the “Nafzaoua” research permit was granted to the Ukrainian company “Energy Limited” and the Tunisian Company of Petroleum Activities (ETAP) in full transparency through an agreement concluded between these two companies and according to the provisions of the hydrocarbon code.

She added that once the license is in operation, it will generate 50% of revenue for the ETAP, without, however, exempting the foreign investor from the auditing of expenditure.

Cheikhrouhou announced that a working group was formed to ensure the implementation of the principles of the International Convention on Transparency in Extractive Industries. This group is made up of representatives of the government, the HPR and the civil society in addition to the heads of oil companies.

She said that a conference on transparency in extractive industries will be organised in cooperation with experts from the World Bank (WB) and will focus on the experiences of Armenia and Romania in the energy sector.

Source: TAP News Agency

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