South Sudan re-evaluates its petroleum industry

South Sudan’s Ministry of Petroleum has entered into a strategic partnership with the African Energy Chamber for a technical assistance cooperation agreement to strengthen the country’s capacity to manage its hydrocarbons sector and wealth.

The country has a longer petroleum industry experience than the rest of East African countries, but years of civil strife has hampered the growth of the sector.

However, South Sudan has over the past year demonstrated a commitment to peace, which gives the country an opportunity to build long-lasting economic development and strengthen its engagement with the regional and international investment community.

As a leading advocate of the African energy industry with institutional and corporate partners that have significant experience in Africa’s oil & gas sector, the Chamber will mobilize the oil and gas community to provide technical assistance to the South Sudanese government.

This technical assistance will support South Sudan in building an enabling environment for business and a world-class oil industry for the benefits of all citizens and investors.

Under the agreement, the Chamber will be conducting an immediate needs assessment of South Sudan’s oil and gas sector, detailing the key institutional and policy reforms required to strengthen capacity across the country’s value-chain. The Chamber will also work on key energy access initiatives and mobilize financing for South Sudan.

The energy sector is the pillar of the country’s economic growth. As oil and gas exploration and production activity continues to picks up steam in South Sudan, there is growing need to increase the level of local expertise required to manage the petroleum sector sustainably, push for rural energy access, and create long-lasting economic empowerment and sustainable development projects.

“We continue to do a remarkable job when it comes to oil field resumption. We are seeing an increase in production. However, capacity building programs are needed to have our citizens work and manage our oil resources properly. We welcome the support of the oil sector through the African Energy Chamber in its collaboration with our country,” declared Hon. Ezekiel Lol Gatkuoth, Minister of Petroleum in South Sudan.

“This partnership with the African Energy Chamber once again proves the high level of trust and genuine cooperation that is needed to develop our country. Guaranteeing energy access is important for every South Sudanese in our march towards economic growth.”

South Sudan is East Africa’s only mature oil producer so the interest of oil companies to invest in the market as it puts back damaged field into production is increasing,” declared NJ Ayuk, Executive Chairman at the African Energy Chamber.

“Now is the time for the oil industry to rally around South Sudan’s efforts to build a sustainable hydrocarbons sector whose revenues equitably benefit all South Sudanese. The strengthening of South Sudan’s oil sector is a priority as it will provide a pillar for the development of East Africa’s entire energy value-chain.”

Read also how Ethiopia is picking up it nascent mining industry as new deals arrive^[1]

References

1. ^{^} Read also how Ethiopia is picking up it nascent mining industry as new deals arrive (www.exchange.co.tz)