Nile Petroleum Corporation (Nilepet), South Sudan’s state-owned oil firm, is planning to conduct an oil and mineral survey to attract investors and boost the country’s exploration and production activities
Quoting Chol Deng Thon Abel, managing director of Nilepet, Xinhua stated that 90 per cent of South Sudan’s oil reserves have not been surveyed, and there is a great potential for investors in oil and gas exploration activities in the East-Central African nation.
The source has further added that Nilepet is looking for investors in around 14 oil blocks.
Speaking with the source, Thon further added that potential investors refrained from investing in South Sudan’s oil and gas and mineral sectors due to past conflicts. The conflict resulted in the closing of Blocks 1,2 and 4 in Unity and Ruweng Administrative Area and Block 5A in Tharjath, which have started production with the return of stability and peace, stated the source.
Thus, with growing stability in the country, investors can confidently explore oil and gas and mineral reserves.
With the return of stability, South Sudan is experiencing an upturn in oil and gas activities. These include South Africa’s Strategic Fuel Fund Association (SFF) taking Block B2 in Jonglei and other states around Jonglei and Nigerian Oranto taking Block B3 for exploration, Thon said to the source.
