South Sudan aims to put 14 oil blocks to be explored by companies in a bid round in Q1 2020, the country’s oil minister, Awow Daniel Chuang, said, Reuters reported.
“Within the next two months, we should be able to complete the work … By the first quarter of 2020, we will be having our first licensing round,” Chuang said.
According to the oil minister, the blocks that will be offered for bidding are blocks A1 to A6. Data is currently being collected on these blocks.
“We are inviting all our investors that wanted to invest in South Sudan to come and move onto those blocks,” Chuang added.
On the other hand, the government stated that South Sudan’s oil mainly comes from blocks 1, 2, 3, 4, and 7.
South Sudan’s revenues are mostly supported by the country’s oil, which was boosted at 180,000 barrels per day (b/d).
“We are opening up the licensing rounds for everyone on a competitive basis and this will help us to get the right partners and investors that can be easily verified because we don’t want to continue to have direct negotiations.”