This archive report was first published on 29 October 2019.
South Sudan has made a significant discovery in the oil sector, inviting investors to explore 14 newly discovered oil blocks. The government aims to license these blocks competitively from early 2020.
According to Petroleum Minister Daniel Awow Chuang, the blocks have been demarcated, and investors are being invited to review them. The government hopes to attract financiers and new investors, particularly those with strong linkages to other segments of the economy.
During the South Sudan Oil and Power conference in Juba, the government highlighted the potential for oil production, citing the current production of 175,000 barrels per day, which is about a third of the potential 500,000 bpd. The conference has become a key platform for showcasing opportunities in South Sudan, which is seeking to move beyond years of war.
South Sudan's First Vice President, Taban Deng Gai, emphasized the importance of petroleum infrastructure, such as oil refineries, in alleviating fuel crises in the region. He noted that building refineries could save billions of dollars annually, citing Ethiopia's imports of refined petroleum products as an example.
Other speakers at the conference, including Ethiopian State Minister of Petroleum Koang Tutlam and Kenya's Special Envoy to South Sudan Stephen Kalonzo Musyoka, highlighted the potential for regional integration and the importance of investing in institutions that support mutual political and economic objectives.
