Image: East African Legislative Assembly
Following the recently signed peace deal, South Sudan is in a position to increase its oil production for the first time since 2013.
As the country’s major source of export revenue, oil production previously fell from 350,000 barrels per day to between 120,000 and 150,00 barrels per day as a result of the war.
Speaking to The Citizen, Mr. Kim Gai, South Sudan’s member of the East African Legislative Assembly said the end of the war signals a win for the country’s economy.
“The economy went down terribly, but after the peace deal, we hope oil production will revert to 350,000 barrels or even half a million a day,” he said.
Up to 70 percent of the country’s oil production was shut since 2013 when intense fighting plagued the country, following an attempted coup against President Salva Kiir.
“People are tired of fighting; the region is tired so is the international community. We will implement the agreement (signed on 31 October) so that the economy recovers and bring development to our people,” said Mr Gai.
Africa Oil & Power will host the second South Sudan Oil & Power 2018 conference which will take place on November 20-22, at the Crown Hotel in Juba. Registration for South Sudan Oil & Power is now open.