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1. Assessing Tunisia’s Upstream Petroleum Fiscal Regime

Author:
Thomas Lassourd and Carole Nakhle
Publication Date:
09-2019
Content Type:
Special Report
Institution:
Natural Resource Governance Institute
Abstract:
The authors of this paper examine Tunisia’s upstream petroleum fiscal regime, in consideration of the government’s stated policy priority of reversing a decade-long decline in reserves and production. Although the country’s “Jasmine Revolution” led to improved civic rights and the country is a strong regional performer on the Natural Resource Governance Institute’s (NRGI) Resource Governance Index, foreign investment has dropped since 2011, in part because of regulatory ambiguity and political instability. Tunisia’s proven oil and gas reserves are very small, especially by regional standards. With limited geological prospects, the existing context is not conducive to oil and gas investment, especially for exploration. Tunisia offers different contractual arrangements and fiscal regimes: a concession-based system, which often involves joint ventures between the state-owned company, ETAP, and international oil companies and production sharing contracts. This paper analyses the various arrangements and fiscal instruments, focusing primarily on production sharing contracts, which have become the dominant contractual forms for foreign investors and do not require any public (ETAP) capital investment. The government of Tunisia publicly discloses all contracts and concessions.
Topic:
Oil, Natural Resources, Gas, and Fiscal Policy
Political Geography:
North Africa and Tunisia

2. Financing Options for the Ugandan National Oil Company

Author:
Thomas Lassourd
Publication Date:
09-2015
Content Type:
Policy Brief
Institution:
Natural Resource Governance Institute
Abstract:
This briefing note is an effort to help frame the main tradeoffs and assess four potential funding models for the newly created national oil company of Uganda. It is based on NRGI’s international experience and understanding of the local context. Uganda’s national oil company will have a critical role. It is expected to professionally manage all aspects of state participation in the sector and act as a center of expertise for the government. It is also expected to play a strong role as a minority equity partner in the USD 4.3 billion Hoima refinery project and potentially in a USD 4 billion export pipeline. Under all possible funding options, strong audit and reporting processes should be required, as well as parliamentary oversight. The chosen funding model will also need to balance the needs of the national oil company with national development needs in Uganda. Funding model options can be adapted to meet Uganda’s unique situation. NRGI is at the disposal of Uganda’s government and parliament to discuss these models.
Topic:
Development, Energy Policy, Oil, Natural Resources, and Governance
Political Geography:
Uganda and Africa