At the South Sudan Oil and Power conference in Juba yesterday, Petroleum minister Daniel Awow Chuang invited investors for its newly discovered blocks. The minister informed the participants of the conference in Juba that the 14 new blocks would be licensed competitively from next year and invited the investors to look at the blocks.
He added that efforts are on to set up a data room for the blocks in the next two months, before licensing them on a competitive basis from early 2020.The government hopes to get financiers and new investors. It is expected that production at key oil fields will start functioning following the ceasefire.. With the formation of a transitional government on November 12 South Sudan is hoping to put years of war behind. The improved business conditions, the minister hoped South Sudan will be able to attract investors
The hydro-carbon sector of South Sudan is largely unexplored. Its current capacity of 175,000 barrels per day, is only a third of the potential 500, 000 bpd. The Oil & Power conference has become a central marketing exercise for opportunities in the sector. Taban Deng, South Sudan First Vice President, remarked that a sound petroleum infrastructure like oil refineries in the region would help alleviate the fuel crises in many countries by saving billions of dollars they spend on importing refined petroleum products. He pointed out that countries like Ethiopia, DRC, CAR, Uganda spend heavily in importing hydro carbon products and South Sudan can cater to their demands.
