Sudan to attract Saudi investments in oil and gas sectors

A top official at the consulate general of Sudan in Jeddah said yesterday that a number of Saudi businessmen are intending to invest more than $1 billion in the Sudanese oil and gas. He expected that Sudan would start exporting oil in the next 3 years.

The Sudanese government is interested in introducing advanced technologies to develop the oil sector. However, there is a need for attracting Saudi investments and their experiences to support this sector.

“The Saudi investments focus on exploring oil and developing the petroleum services. We are currently working to explore the minerals in the North of Sudan,” Abdul Aziz Mohammed Abu Taleb, an economic adviser at the Sudanese consulate, told Arab News.

“There is strong cooperation between the Kingdom and Sudan to explore the minerals in Sudan and increase the size of investments in Sudanese oil. We held a number of ministerial rounds between the two countries, especially between the Ministry of Petroleum and Mineral Resources and the Energy Ministry of Sudan to enhance the cooperation in this sector,” he said.

“The separation of South Sudan has no impact on the relations between both countries. Sudan is currently exporting animal products, 2.5 million cattle heads and agricultural commodities to the Kingdom,” added Abu Taleb.

“The trade exchange between Sudan and Saudi Arabia is more than $2 billion. We will focus more on the agriculture sector, which plays a big role to enhance the bilateral trade. The Sudanese government offers facilities to Saudi businessmen for investing in the agriculture sector as agricultural lands are leased for 99 years,” said Abu Taleb.

Source: Arab News & Zawya


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password