By Wendell Roelf CAPE TOWN (Reuters) - South Sudan will drill 30 new wells this year and significantly boost oil output as it chases a peak 350,000 barrels a day target by mid-2018, the petroleum minister said on Monday. East Africa's only mature oil producer, South Sudan has been courting new investment to revitalise an oil sector where output has been curbed to 130,000 bpd amid security challenges. "We are estimating by the end of the year we will reach 200,000 barrels per day. We will make sure it reaches what it used to be," Ezekiel Lol Gatkuoth, the petroleum minister, told journalists on the sidelines of an African oil conference in Cape Town. The nation, which seceded from Sudan in 2011 but plunged into civil war just over two years later, aimed to double output in the financial year starting in July, the finance minister said in January. Gatkuoth said the country would also resume stalled negotiations with Tullow Oil and Total over Block B1 and B2 after it halted direct talks in April due to "irreconcilable differences". "But now they have written to me to say they are interested to resume the negotiation so that we can reach a deal," he said. Disagreements with the companies included recovery costs, capital gains tax as well as the period of exploration, Gatkuoth said. Blocks B1 and B2 were once part of a 120,000 square kilometre area known as Block B, which was divided into three licenses in 2012 and is thought to be rich in hydrocarbons although very little drilling has been done there.
Newer articles:
- In South Sudan’s war, shelter protects girls from selling sex - 07/06/2017 12:10
- South Sudan Yei State warring factions sign peace deal - 07/06/2017 07:48
- In South Sudan's war, shelter protects girls from selling sex - 06/06/2017 23:43
- FBI presence at South Sudan trial over hotel rampage - 06/06/2017 04:27
- Andrew Loku was traumatized from kidnapping, torture in South Sudan - 05/06/2017 20:05
Older news items
- South Sudan's war leaves disabled, elderly at special risk - 04/06/2017 10:35
- South Sudan: 15 young children die due to botched measles vaccinations - 02/06/2017 03:57
- BBC Hard Talk - Head of UN Mission in South Sudan - David Shearer - 01/06/2017 12:47
- South Sudan: People with Disabilities, Older People Face Danger - 01/06/2017 08:49
- South Sudan General Accused of Using Position to Gain Millions - 31/05/2017 08:21
Latest news items (all categories):
- South Sudan Opens 14 Oil Blocks, Courts Investors Ahead of SSOP 2026 - 26/10/2026 15:08
- Jambojet Explores South Sudan Expansion After Talks with Juba Regulator - 26/10/2026 15:05
- Kiir swears in 5 officials ahead of South Sudan elections - 26/10/2026 14:53
- South Sudan cattle battles leaves 10 dead: official - 26/10/2026 14:49
- Churches urge world 'not to forget South Sudan' ahead of first elections - 26/10/2026 14:47
Random articles (all categories):
- A man and his machine in Africa — and his quest to bring healthcare to his people - 05/10/2017 04:05
- International community offers to facilitate South Sudan peace talks - 19/03/2025 13:40
- Two Twic youth trapped in Abyei freed - 10/11/2023 06:49
- The fallacy of using the notion of ‘Alliance’ in Equatoria politics - 19/08/2020 21:59
- South Sudan: Bureaucratic obstacles hindering relief work must stop, says senior UN official - 30/11/2016 10:52
Popular articles:
- Who is the darkest person in the world, according to Guinness World Record? - 25/10/2022 02:34 - Read 151298 times
- School exam results in South Sudan show decline - 01/04/2012 17:58 - Read 28390 times
- Top 10 weakest currency exchange rates in Africa in 2023 - 19/07/2023 00:24 - Read 25495 times
- No oil in troubled waters - 25/03/2014 15:02 - Read 24701 times
- NDSU student from South Sudan receives scholarship - In-Forum - 29/09/2012 01:44 - Read 22676 times
