Juba Extends CNPC and Petronas Contracts

Monday, January 9, 2017

The oil contracts with CNPC and Petronas for their acreage in South Sudan has been renewed with the government for another five years.

In addition, the government of South Sudan also agreed to pay compensation to local subsidiaries of CNPC and ONGC for the shutdown of oil production in 2012 and 2013. The amount of compensation was not revealed.

CNPC and ONGC also saw an extension of the contract until 2022 for the Paloch and Unity oil fields News Ghana reported.

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