South Sudan to Conduct Minerals and Oil Survey to Attract Potential Investors
South Sudan’s state-owned oil company Nile Petroleum Corporation (Nilepet), plans to conduct a survey of both its oil and mineral resources to attract more investors and help speed up exploration and production in the country.
According to Chol Deng Thon Abel, Managing Director of Nilepet, only 10% of South Sudan’s oil reserves have been surveyed.
“So, you still have 90% of the country not surveyed. But we still believe that we have huge reserves, which is why we say South Sudan is an oil-rich country,” said Abel, adding that the state-owned oil company is working on attracting investors to invest in 14 oil blocks, with more blocks available due to prevailing peace and stability.
South Sudan has huge mineral potential including gold, iron ore and tin among others. The country is currently producing 170,000 barrels per day (bpd), down from 190,000 bpd due to the COVID-19 pandemic.