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Wednesday, June 7, 2017
South Sudan’s Ministry of Petroleum will negotiate with companies interested in investing in its oil and gas sector for available acreage. Representatives of the government, including Ezekiel Lol Gatkuoth, Minister of Petroleum, are engaging with companies at the Africa Oil & Power conference currently taking place Cape Town.
The Ministry is currently in discussions with companies Holdcorp and Royal Oil and Gas in Block E2 and with Royal Oil & Gas in Block A4.
“Our message to global energy investors continues to be that South Sudan is pro-business and open for business,” said the Minister of Petroleum. “We want to attract companies that share our ambition to develop resources quickly. We look forward to continue engaging with interested parties.”
In addition, the government announced it is also continuing negotiations with a group led by Total for oil and gas blocks B1 and B2. Also involved in the discussions for B1 and B2 are UK independent Tullow Oil and the Kuwait Foreign Petroleum Exploration Co. (KUFPEC).
This announcement at Africa Oil and Power was contradictory to a statement released in the latter half of April saying that the government was looking for new firms to invest in the two blocks as negotiations with Total, Tullow, and Kufpec had reached an impasse.
“Following lengthy discussions with representatives of the company Total we have decided it is in the best interest of South Sudan to open opportunities to other potential investors,” Minister Gatkuoth said at the time. “We had hoped for a favorable outcome but we believe these large and highly prospective blocks need a fast and ambitious development program to achieve their full potential. B1 and B2 are now open for direct negotiation.”
On June 7 at the Africa Oil & Power conference, South Sudan will host a special Market Spotlight session to discuss oil and gas activities in the country and the primary investments taking place to stimulate the national economy. South Sudan plans to double total oil production by 2018. It currently produces 130,000 bpd but can produce as much as 500,000 bpd.
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