South Sudan extended oil E&P agreements for three blocks, the petroleum minister said Sept. 10, seeking to revamp activity in the sector which ground to a halt after years of civil conflict.
The government said last week it expects to hit peak oil output of 350,000 barrels per day (bbl/d) by mid-2019 as production ramps up at oil fields that were offline due to the violence.
South Sudan seceded from Sudan in 2011 when output peaked at 350,000 bbl/d but two years later plunged into civil war.
Ezekiel Lol Gatuoth, the minister, said contracts had been extended for China National Petroleum Corp., South Sudan’s state-run Nile Petroleum Co., Malaysia’s Petronas and India’s Oil and Natural Gas Corp.
“We have extended block 1, 2 and 4 for six years and eight months. They will continue operating there. It is a win-win for all of us,” he said.
Neighboring countries have been mediating a peace deal between President Salva Kiir and rebels led by his former vice president, Riek Machar, to end violence that started in late 2013.
Second agreement is with BP.
Top oil exporter Saudi Arabia has cut the June official selling prices (OSPs) of all crude grades it sells to Asia, sources say.
The project had been delayed due to the pandemic.