Reviving Tunisia’s oil & gas industry in the current market environment

Crystol Energy attended the 7th Tunisian Oil & Gas Summit (TOGS) that took place under the patronage of the Ministry of Energy, Mines and Renewable Energies on 27-30 September 2017.

Here are some interesting discussion points:

– Energy and Big Data are two of the top five game changers for the U.S. economy, adding together up to $1 trillion to the country’s GDP by 2020.

– The management of mature fields is primarily a cost game. Other successful factors include: the speed with which new technologies are developed aiming at cost and efficiency; continuous improvement and operational excellence; obtaining and maintaining a certain pool of in house skills and resources; a long-term perspective to be justified for investments (license life, contractual set up, investment security from authorities/host countries, as well as foresights by IOCs) (OMV, Sep 2017).

– New technologies such as Fishbones well technology brought two dead wells back to life in Oman, reaffirming the power of technology in the oil & gas industry.

– Algeria has substantial technically recoverable shale oil & gas resources, with different contracts and fiscal regime applicable compared to conventional oil & gas, including lower royalty (5% flat rate) and surface area fee.

Tunisia

Algeria applies different contracts and fiscal regime to shale oil & gas resources compared to conventional oil & gas, including lower royalty (5% flat rate) and surface area fee

– According to Baker Hughes GE, most environmental organisations always refer to the UK’s well abandonment legislation as it is considered to be the most comprehensive in the world.

– Best practices for the oil & gas industry requires the publication of the Environmental Impact Assessment (EIA).

– The Strategic Environmental Assessment (SEA) for petroleum activities in Lebanon is not ‘up to standards’, according to Diana Kaissy from the Lebanese Oil and Gas Initiative (LOGI).

– There is no universal definition of unconventional oil and gas resources. It varies between countries and over time as economic and technological conditions evolve.

– Schlumberger, a leading oilfield services provider, offers an impressive and creative Health, Safety and Environment (HSE) program for Youths. The program shares the company’s HSE expertise in the community to help young people make responsible decisions related to HSE topics.

HSE

Schlumberger’s Health, Safety and Environment (HSE) program for Youths