Nigerian and Canadian firms sign oil contract with Sudan

Oil-pump-africaBefore 2011, oil revenue in Sudan accounted for more than 90 per cent of the East Africa’s exports. (Image source: Paul Lowry / Flicker)Nigeria-based Express Petroleum and Gas Company Limited and State Oil Company Canada Limited have signed an oil exploration and production contract with Sudan

The country’s Oil Ministry said in a statement that the deal will enable the partners to work on the Al-Rawat field located in state of White Nile.

In the contract signed, State Oil Company Canada Limited will own 50 per cent stake, Express Petroleum and Gas Company Limited will own 20 per cent stake and the Sudanese government will own 30 per cent stake.

An official from the Ministry added that the deal comes as Sudan, which currently produces 133,000 bpd, seeks to increase production to 200,000 bpd.

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