14 Nov 2018

 

South Sudan Renews Oil Exploration Contracts For 6 Years

South Sudan on Monday renewed for six and a half years contracts of its oil exploration companies.

South Sudan Renews Oil Exploration Contracts For 6 Years

By Ojwe Lumara

JUBA, 11 September 2018 [Gurtong]-The Ministry of Petroleum and the company representatives signed the agreement extending the contracts for 80 months of South Sudan’s Nile Petroleum Company (Nilepet), China National Petroleum Corporation (CNPC), India’s Oil and Natural Gas Corporation (ONGC Videsh) and Malaysia’s Petronas in Blocks 1, 2 and 4.
The agreement would allow South Sudan’s oil partners to invest more in the country’s oil sector.

“We are extending their contract for 80 more months which will give the partners more time to invest under the supervision of the minister and recover what they would have invested,” Ezekiel Lol Gatkuoth, the Petroleum Minister said after signing the agreement.

He assured citizens that the government was committed to its oil resumption plans and would protect the environment.

“Our first priority is the lives of the people and we are mindful of their health,” he said adding “we are abiding by the laws of this country to make sure it is safe for our people.”

Minister Gatkuoth said through the agreement, the oil producing communities would get developmental projects such as health, water, education, hospitals and roads.

Last month, South Sudan resumed crude oil pumping to Sudan from the Toma South oil field in Ruweng State via Heglig to Port Sudan. Since last month’s resumption of oil production in former Unity State for the first time since the outbreak of conflict in 2013, South Sudan now produces 135,000 barrels per day according to the petroleum minister.

Nile Petroleum Corporation’s Managing Director Dr Chol Deng Abel said extension of the contracts meant a start for the oil industry.

He said with more oil production, the country would realize more income to be invested in developmental projects of the country.


 

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