Tunisia’s oil & gas sector has $1 billion in active projects
The existing oil fields in Tunisia has been in a natural decline over the last decade. In 2019 it only produced 50,000 barrels per day with about 400 million barrels in proven reserves remaining.
Even though Tunisia is an oil producer, its fields have been in a natural decline over most of the last decade. With just over 400 million barrels in proven oil reserves, it has to import most of its refined product needs.
It has an ageing refinery in Bizerte, constructed by Snamprogetti and commissioned in 1963, it has been renovated a number of times over the years. In 2012 Qatar Petroleum announced that it was going to invest in a new $2 billion refinery at the site but the project never got the backing required to proceed. In 2017, Studi Tecnologie Progetti S.p.A. signed a Front End Engineering and Desing (FEED) contract to expand the refinery’s capacity by 25 percent. Once completed, the project will require a Final Investment Decision (FID) before being tendered.
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