Major Development Project in El Borma Oil Field
A significant development project has been launched in the El Borma oil field by the Italian-Tunisian Petroleum Exploration Company (Sitep), with the objective of strengthening oil and gas production until 2030. This program involves the drilling of 10 new wells, with two to be completed in 2025 and 2026, in order to meet the country's energy needs and reduce the current deficit.
Background and Challenges
According to the Ministry of Industry, Mines, and Energy, the recent decline in production at El Borma is primarily due to a natural decrease of 8% per year. Other challenges, such as the temporary absence of contracts for equipment supply and maintenance issues with drilling equipment, related to Sitep's delicate financial situation, have also affected production. Some suppliers have even refused to participate in tenders due to the company's accumulated debts.
Progress and Efforts
Despite these obstacles, production in the El Borma field has increased by 15% at the end of the first quarter of 2025 compared to the same period in 2024. This growth testifies to Sitep's ongoing efforts to improve its performance.
Governance and Procurement
It is worth noting that, although Sitep is a publicly owned company, it is not subject to the usual rules of public markets but uses procedures validated by its board of directors, under the supervision of the Ministries of Finance and Industry.
Future Prospects
This ambitious project could play a key role in securing Tunisia's energy supply in the coming years. With the drilling of new wells and the improvement of production capacities, Sitep aims to contribute significantly to the country's energy independence and reduce its reliance on external sources.
