REPOST from Eye Radio – 29 OCT 2019
Author: Daniel Danis
About 600 potential oil sector investors have gathered in Juba for the South Sudan Oil and Power conference.
The conference is an avenue for the government to dialogue and to make deals with companies interested in energy and future investments in South Sudan.
According to the conference organizers, the event focuses on finance and new investment, and cross-sector involvement from government and private enterprises.
This is the second such oil and power event being held in Juba.
Last year’s Oil & Power conference enabled South Sudan and South Africa to sign three projects through their state corporation, the Nile Petroleum Company and the Strategic Fuel Fund.
South Africa invested $1 billion U to cover oil exploration and production, building of an oil refinery and the construction of a pipeline.
South Sudan currently produces 175,000 barrels per day but can reportedly produce as much as 500,000 barrels per day.
In 2017, the Ministry of Petroleum said more than 70 per cent of South Sudan oil sectors remains unexplored.
It called on investors to participate in direct negotiations with the government for available oil and gas acreages.
At the ongoing oil and power conference, the government is expected to showcase the resumption of production at several key oilfields, a holding ceasefire, and the improving investment conditions for the energy sector in South Sudan.
International investors are also expected to make presentations and exhibition of their investments.
The delegates are made to pay to participate in the conference.
A fee of $500 each for companies headquartered in South Sudan, while companies based outside the country pay $1,000 U to get a pass.