Washington – Huge oil and gas reserves have been discovered in the North African countries of Libya and Tunisia, plagued by political instability and chaos. The US Geological Survey-USGS announced that there are at least four million barrels of fuel oil and 385 billion cubic feet of natural gas reserves in the coastal areas of these countries. It is claimed that this will almost double the fuel reserves of both North African countries.
In 2011, the movement of the Jasmine Revolution or Arab Spring, started in Tunisia. A new government was formed in Tunisia after popular protests against the dictatorship in this North African country. But for the last 12 years, Tunisia has had no political stability. A similar situation exists in neighbouring Libya. In 2011, an armed movement broke out in Libya against Muammar Gaddafi. Even after the assassination of Gaddafi, civil war continued in Libya. There is a conflict between the pro-Western government and rebel leader General Khalifa Iftar.
Moreover, Libya and Tunisia are both oil-rich North African neighbours. Libya was the seventh largest oil producer in OPEC’s list of oil-producing countries in 2021. Libya was the third oil-producing country in Africa after Nigeria and Algeria. According to USGS, Libya has three per cent of the world’s total oil reserves. Tunisia is claimed to have reserves of 23 million cubic feet of natural gas and 1.5 billion barrels of oil.
In such a situation, the information released by the USGS is raising eyebrows. Two large oil and gas reserves have been discovered offshore from the Bizerte coast of Tunisia to the Libyan city of Sirte. This includes four million barrels of fuel oil. Subsequently, 385 billion cubic feet or 1.47 million barrels of oil and gas reserves are hidden in this area. Both of the North African countries have not responded to the USGS information. But the newfound reserves will likely attract the countries that have already invested in the fuel sector of Tunisia and Libya.
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