South Sudan to launch Oil and Gas Licensing round.
The South Sudan government has announced that it will launch its oil and gas licensing on October 9th to 11th 2019 in South Africa and another one in Juba on October 29th-30th, 2019.
The Ministry of Petroleum, South Sudan is now keenly seeking exploration, seismic and geophysical companies to gather and present exploration data and is looking to invite investors to gain a better understanding of South Sudan’s oil and gas sector.
The country has a massive onshore reserve and other unexplored areas, which makes it very attractive for investors.
Recommencement of production at several key oil fields in South Sudan, a landmark peace deal celebrated on October 2018 and cooperation with neighboring Sudan has significantly improved investment conditions for the energy sector in the country.
There has also been an increase in foreign investment through oil and gas exploration companies including Oranto Petroleum, which signed a six-year exploration and production sharing agreement (EPSA) for Block B3 in 2017 and South Africa’s Strategic Fuel Fund, which in March this year signed an EPSA for Block B2.
South Sudan’s Ministry of Petroleum plans to increase its levels of production to about 350,000 barrels per day (bpd) by 2020.