Tunisia: Most successful of the region, with plans to keep it that way

Gordon Feller

Tunisia is the smallest, but in many ways the richest of the North African countries, with GDP per capita about $7,500, and trade growth at 17.8% for 2007. Real GDP growth of 6.3% in 2007, the country has achieved remarkable and steady growth over the years with average real GDP growth of around 5.5% per year over the past five years. The, government has introduced an initiative, “Loi de Finances 2007” aimed at spurring high-technology, innovation and favoring the development of 70,000 small to medium enterprises by 2009. A new hydrocarbon law will offer incentives for foreign oil companies. BG is Tunisia’s largest foreign energy partner. A key national asset is Tunisia’s share of the giant Transmed gas pipeline.

Tunisia aims to boost oil and gas output-thanks to new discoveries in 2007 and earlier. The country produced close to 97,000 bopd in 2007, and production is increasing, as is exploration. Tunisia became a net importer in 2000, when oil demand outpaced supply. The country has had some success in gas exploration and exploitation. OMV AG said it struck a gas condensate field in the Jenein Sud exploration permit in southern Tunisia. The Ahlem-1 exploration well tested a cumulative flowrate from several layers at 23,500 boe a day. The find is the third successful discovery in the Jenein Sud permit within the past two years.