Petroleum Africa
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Wednesday, November 21, 2018
South Sudan expects a windfall from resumed oil production to spur economic growth as it opens territory to new investors to explore more hydrocarbon deposits. The peace pact signed in July is hoped to build investor confidence, which will in turn help the nation’s economic recovery.
In a media report Minister of Petroleum Ezekiel Lol Gatkuoth, said South Sudan is open to investment and is shopping for new explorers for oil blocks B1 and B2. The minister said the government was expected to sign new JV deals with companies already in sectors critical for economic growth; this includes oil technology, downstream petroleum activities and development of power infrastructure.
Operators, and the government recently restarted production that had been shut in duw to conflict, increasing its production totals. According to Gatkouth, South Sudan will see the return of flows from the El Nar, El Toor, Manga, and Unity before the end of the year. He also said that the government was set on uncapping Block 5A this year also.
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