Tunisia is looking to welcome new technologies and partnerships with International Oil Companies (IOCs), that can be effectively integrated into existing projects, said a senior official.
Mohamed Akrout, CEO of state-owned Tunisian National Oil Company Etap, also discussed investment opportunities in the North African country, in an exclusive interview with The Energy Exchange, the organisers of the North Africa Oil and Gas Summit which concluded recently.
Currently, Tunisia’s proven reserves are estimated to be approximately 838 million barrels, of which 51 per cent is oil and 49 per cent is gas, he said.
Discussing the opportunities Etap wishes to pursue in 2013, Akrout said: “Etap has recorded a sharp improvement in exploration activities in 2013. In 2013, 15 wells have been drilled compared to 11 in 2012 and 11 in 2011. We have also carried out large-scale seismic acquisition, which will eventually end up in an exploration and development programme in the near future.
“With regards to new projects, we expect to realise our annual provisions concerning the principal gas project through the development of the Nawara concession located in the South, and the conclusion of all supply and construction contracts. This work will commence in early 2014.”
“Activities related to exploration and production has been maintained at the same pace and have as such continued in often normal conditions, without any significant or noticeable incidents. The few instances of social disorder have been surmountable by a high level government policy which encourages open dialogue and transparency in negotiations with all stakeholders,” he added.
Akrout also explained that their expectations, with regard to IOCs entering into partnerships with the company, are centred on an exploration programme that uses appropriate technology and meets international environmental standards.
He added that the summit was an opportunity to learn and share the latest studies, technologies and work methods practised in the oil and gas industry, through which challenges can be resolved and different types of risks encountered at national and international levels, can be managed.
Source: TradeArabia News Service