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Monday, May 27, 2019
Companies who had an interest in South Sudan’s Block B2 prior to its award to South Africa’s Strategic Fuel Fund (SFF) may have another chance to get take a stake. According to the country’s Minister of Petroleum, Ezekiel Lol Gatkuoth, SFF has “room to farm in” a partner in carrying out activities on the block.
The recently signed $1 billion exploration and production sharing agreement will see the SFF conduct exploration activities in the block and build a 60, 000 bpd refinery and pipeline in South Sudan.
Gatkuoth told Bloomberg that the South Sudanese government has the right to approve any partners, with the transaction being subject to capital gains tax.
In approving any partnership, the government will consider the role the relationship will play in boosting production as the country works to restore its output to pre-war levels.
Under the agreement, the SFF will own and operate Block B2 alongside South Sudan’ s national oil company, Nile Petroleum Corp.
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