South Sudan invites Russian companies to its oil and gas sector
Image: Daily Sabah
South Sudan’s Minister of Foreign Affairs and International Cooperation H.E. Awut Deng Acuil met with Russia’s Minister of Foreign Affairs H.E. Sergey Lavrov to discuss the way in which Russia can aid South Sudan in developing its oil and refining industries.
South Sudan currently produces around 170,000 barrels per day (bpd) and expects to increase production to 200,000 bpd this year. The government has also noted that it is currently conducting a full environmental impact audit of all of its oil-producing fields ahead of any new exploration and drilling.
“We informed our colleagues about the Russian companies working in the oil and gas, infrastructure, railway and transport sectors that are ready to discuss possible mutually beneficial projects with our South Sudanese partners,” said H.E. Minister Lavrov. “We have agreed to promote direct contacts between our economic operators.”
H.E. Minister Acuil stated that South Sudan has substantial mineral resources and aims to identify areas in which Russian companies can lead exploration activities, adding that there are a myriad of investment opportunities in South Sudan’s refining sector as well as infrastructure development, including the construction of roads and railways.
Russian oil companies such as Lukoil – Russia’s second-largest oil producer – have been continuing to look for investment opportunities on the continent, specifically in West Africa, with other Russian multinationals likely to follow.