Tunisia’s oil and gas output has been on a downward trajectory for almost a decade. Political instability unleashed following the 2011 revolution paralyzed the country’s upstream. But Industry Minister Slim Feriani has been battling to turn things around and is determined to see “the glass half full.”

Investors, they like stability,” says Tunisia’s Industry Minister Slim Feriani. But Tunisia has had little of that since 2011 when a popular uprising...