Hydrocarbon prospection :Concerted action needed to revamp legislative framework (minister) | Tunisia News Gazette

Hydrocarbon prospection :Concerted action needed to revamp legislative framework (minister)

Minister of Energy, Mines and Renewable Energy Khaled Kaddour said there is need to underpin the efforts made by his department to revamp the legislative and regulatory framework of hydrocarbon prospection

and production in Tunisia.

Fresh incentives will help attract more investments, in line with the objectives of the national strategy by 2030.

This strategy also requires the relaxation of administrative procedures, Kaddour said at a seminar on the development of energy exploration organised Friday by the Tunisian Company of Petroleum Activities (French: ETAP). Oil companies face a 16 to 24-month waiting period before they obtain an exploration license, he indicated.

“The goals set are unattainable without the support of our partners in the hydrocarbon sector,” said Kaddour as he urged the latter to scale up investment in prospection as part of a win-win partnership. This will help Tunisia build its energy stocks and oil companies will make profit.

The ministry wants to involve various partners in the reform process, he underscored. The strategy is centered around the renewal of hydrocarbon resources, particularly through increased drilling operations of conventional resources and incentives to exploration in the north and the midland.

The strategy is also intended to devise a gas sector policy to capitalise on Tunisia’s strategic location and promote ETAP’s international activities in prospection, production and services.

Hydrocarbon deficit is estimated at about 3 million tonnes of oil equivalent (TOE), that is about 40% of primary energy needs, against 0.6 million TOE in 2010, considering the growing primary energy needs (8.3 million TOE against 9 million TOE in 2017).

Production posts an annual 6% drop; prospection investments fell from 400 MTD in 2010 to 87 MTD in 2017 as a result of failure to grant exploration permits, notably in the period between 2014 and 2016.

Source: TAP News Agency

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