Petroleum Africa
Find us on: 
Wednesday, January 11, 2023
UK-independent Wildcat Petroleum is optimistic that it will be signing a production sharing contract (PSC) in the near future with the Sudanese Ministry of Energy and Petroleum, covering one to four producing assets in the North African country.
Wildcat has been conducting a technical evaluation of the Sudanese assets – Blocks 1, 3, 4 and 5 – since March of 2022. In October, Wildcat signed a MoU with Sudanese authorities to conduct studies on increasing the overall oil production of these assets. The MoU expired on December 31 with an extension possible, but after evaluating the technical data, Wildcat prefers to now move straight to a PSC.
To that end, company executives expect to travel to Khartoum shortly to meet with the Ministry, the Oil Exploration & Production Authority (OEPA), Sudapet, and other officials to negotiate terms on at least one of the blocks. The company previously set up an office in Khartoum from where its field personnel operate.
Once a PSC is signed, Wildcat, as operator, would undertake field rejuvenation activities with a target of producing 100,000 barrels per day. The state company Sudapet would be responsible for the implementation and day-to-day maintenance of the assets under Wildcat’s supervision.
According to Mandhir Singh, Chairman, the company will act as a banker to the Sudanese oil industry. Singh told Petroleum Africa, “Our main job will be to secure funding in order to develop the various Sudanese petroleum assets (oil and gas). Our job will mainly involve securing international finance.” The LSE-listed company has already secured backing from natural resources specialist investor, Waterford Finance and investment Ltd., giving it access to ample capital to progress the Sudan program.
" alt="World Heading for 3-degree C Warming Trajectory, as Political Headwinds Slow the Energy Transition">
" alt="VAALCO Energy Publishes its 2023 Sustainability Report">
" alt="Sound Energy Gets Extra Time on Morocco’s Anoual Exploration Permits">
" alt="Exxonmobil and NBA Africa Launch Jr. National Basketball Association League in Mozambique">
" alt="Africa Finance Corp Invests $14.1 Million in Developing Xlinks’ Morocco-UK Power Project">
" alt="Aminex Bags New Funding Facility">
" alt="BW Energy Announces $150 Million Sale & Leaseback of Mabomo Production Facility">
