Investments in the exploration and production of hydrocarbons in Tunisia fell to 178 million dollars, until the end of November 2014, i.e. 22% of the total investments planned this year ($ 795 million) against $ 848 million achieved in 2013, Ridha Bouzaouada, Director General of Energy at the Ministry of Industry, Energy and Mining told TAP.
He explained this regression by difficulties faced by the sector at the end 2013 and the first half of 2014 and misinterpretation of Article 13 of the Constitution, which states that “natural resources are the property of the people of Tunisia that the state sovereignty over these resources is exercised in its name and that investment contracts for these resources are subject to the specialized committee in the Assembly of People’s Representatives.”
The number of issued permits reached 38 until the end of November 2014 (36 exploration licenses and two prospecting), against 45 allowed during the same period of 2013.
The year 2014 was marked by the drilling of three exploration wells and 8 other development wells against 13 exploration wells and 11 development wells in 2013.
The official attributed the decline to the reluctance of some companies to invest in Tunisia in view of the absence of a clear political vision ensuring their stability and encouraging them to invest, not to mention the fragile security situation in the country, the multitude of strikes and social tensions.
This has led other companies to use the rule of “force majeure” section at the oil agreements, permitting termination of contracts and the dismissal of a number of employees.
