By Nidhi Verma
NEW DELHI Oct 16 (Reuters) - Sudan has managed to restore its oil production to levels before fighting broke out with South Sudan in April but will miss its 2012 target of pumping 180,000 barrels a day, its oil minister said on Tuesday.
The African country is pumping currently 120,000 bpd, roughly what it used to produce when fighting in the oil-producing border region broke out with neighbour South Sudan, Awad Ahmed al-Jaz told reporters at an industry conference in India.
In April, South Sudan briefly occupied the disputed oil field of Heglig which contributed to half of Sudan's output. The field and its processing plant got damaged during days of heavy fighting with ground and air forces.
Jaz said Sudan expected to increase its annual oil production to 180,000 barrels per day (bpd) in the first quarter of 2013, giving up a plan to reach this level by year-end.
"We have our blocks and we are working hard to raise production," he said.
He already said on Monday production is expected to touch 150,000 bpd by the end of this year and Sudan aims to double its oil output in the next two years, to 300,000 bpd, as it steps up oil exploration.
Sudan lost three-quarters of oil production when South Sudan became independent in July 2011, sending its economy in turmoil as oil revenues were the main source for state revenues and dollars needed to fund imports.
In July, Sudan signed oil exploration and production-sharing deals with Canadian firm Statesman Resources Ltd as well as Chinese, Nigerian, Australian, Brazilian and French companies.
Seven blocks were awarded for the first time, while some companies joined previously awarded contracts for two other blocks.
But analysts are sceptical Sudan will increase production anytime soon as companies are expected to carry out for years magnetic studies first. Efforts to boost production from existing fields have been hampered by a scarcity of dollars needed to bring in better equipment and technology.
Newer articles:
- Harassed South Sudan church closes seminary - Catholic San Francisco - 17/10/2012 03:44
- South Sudan says no diplomatic row over Nairobi murder - Coastweek - 17/10/2012 03:15
- Sudan's lasting impact on oil market - Financial Times - 17/10/2012 03:01
- Taking the Long View for the Peoples of Sudan and South Sudan - Huffington Post (blog) - 16/10/2012 18:11
- Congolese refugees fear going home but feel unwelcome in South Sudan - Catholic News Service - 16/10/2012 12:14
Older news items
- Seize South Sudan Trade opportunities, ministry tells SMEs - IPPmedia - 16/10/2012 04:29
- Farrow: We must end the obscenity of hunger - CNN - 15/10/2012 23:20
- 'Mobile Courts' Coming to South Sudan - The Root - 15/10/2012 18:03
- Joint Mechanism between Sudan, South Sudan to Defuse Border Tensions - Sudan Vision - 15/10/2012 16:50
- Replay: Video chat with South Sudan native Deborah Deng - Sioux Falls Argus Leader - 15/10/2012 14:14
Latest news items (all categories):
- Hope for Christmas gift as South Sudan talks return to Nairobi - 05/12/2024 10:26
- Chinese medical team brings relief to South Sudan patients - 05/12/2024 10:18
- Sudanese bishop speaks about being brutalized by soldiers - 05/12/2024 10:08
- President Biden: Absent Principles - No Honoring Words - Broken Promises - 05/12/2024 09:55
- South Sudan’s ‘Game Of Thrones’ Continues – Analysis - 01/12/2024 17:47
Random articles (all categories):
- S.Sudan, Kenya plan pipeline, analysts skeptical - 25/01/2012 17:35
- UN experts name South Sudan officials for rights abuses - 03/04/2023 06:34
- The peace pact is all South Sudan has; it must be saved - 02/04/2022 01:00
- World's newest nation South Sudan battles to open embassies - Chicago Tribune - 10/06/2012 19:13
- China sends 700 peacekeepers to South Sudan - 22/12/2014 07:45
Popular articles:
- Who is the darkest person in the world, according to Guinness World Record? - 25/10/2022 02:34 - Read 58638 times
- No oil in troubled waters - 25/03/2014 15:02 - Read 22221 times
- School exam results in South Sudan show decline - 01/04/2012 17:58 - Read 21370 times
- NDSU student from South Sudan receives scholarship - In-Forum - 29/09/2012 01:44 - Read 18901 times
- Top 10 weakest currency exchange rates in Africa in 2023 - 19/07/2023 00:24 - Read 18050 times