South Sudan Launches First Oil Licensing Round
The Ministry of Petroleum (MoP) of South Sudan announced the launch of the first oil licensing round.
The Ministry of Petroleum (MoP) of South Sudan announced the launch of the first oil licensing round.
Bol Ring Mourwel, Managing Director of state-owned Nile Petroleum Corporation, said that his company plans to increase oil production in Block 5A in Unity state to between 40,000 to 50,000 barrels per day (b/d)
Sudan and South Sudan have come up with a draft deal to develop oil cooperation, including resuming production from key oil fields.
South Sudan aims to put 14 oil blocks to be explored by companies in a bid round in Q1 2020.
Foreign direct investments (FDI) in South Sudan increased to reach around $1 billion, compared with $250 million in fiscal year (FY) 2016/17.