MPs call for new structures to control investment in natural resources | Tunisia News Gazette

MPs call for new structures to control investment in natural resources

Several representatives of the people, called on Monday, to establish new control structures and regulations to follow up investors and especially foreigners who exploit natural resources. They considered that laws are not sufficient to ensure transparency in this field.

MPs underlined in a plenary session Monday in Bardo, at the discussion of a draft law on the hydrocarbon exploration license “Nefzaoua”, the right of the people to know the real wealth of Tunisia and all related figures, under the Tunisian Constitution.

Most MPs have called for the principle of transparency in the field of energy, so that the state regains the confidence of its citizens. Others called for the implementation of the Prime Minister’s decision to set up a natural resources audit commission.

The people’s representatives said that the recent sit-ins in southern Tunisia and the closure of some oil wells reflect the degree of tension in these areas. They justified these acts by “the lack of reaction of the government, in the face of the demands of the citizens who have not obtained their share of development”.

Some MPs questioned the situation of the Tunisian Petroleum Enterprise (ETAP), which remains a “secondary partner” and does not take “all its weight” on investments in major projects.

Other interventions have brought non-traditional resources such as shale gas, corporate social responsibility …

The agreement on research and exploitation of hydrocarbons on the research permit “Nefzaoua” (governorate of Kebili) signed on June 6, 2016, for the benefit of the Singaporean company “YNG Energy Limited” subsidiary of the company “Yug Neftegaz Private Limited” in association with the Tunisian Company of Petroleum Activities, establishes the conditions according to which these two companies will carry out the research, the development and the exploitation of the hydrocarbon deposits on the said license which covers an area of 3032 km2.

Once this bill is passed, the corporation will undertake exploration and research, which will result in significant investments that will subsequently be used to boost economic activity and secure jobs.

Source: TAP News Agency

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