New agreements with South Sudan - StarAfrica.com

OSLO, Norway, October 19, 2012/African Press Organization (APO)/ -- South Sudan and Norway have entered into two new development cooperation agreements. Norway is to provide up to NOK 48 million for enhancing the management of South Sudan's oil resources.

This is the first time the two countries have signed an agreement on the overall principles for their development cooperation.

“I am pleased that we have concluded an agreement of this kind. It will help to give the people of South Sudan faith in the future,” said Minister of International Development Heikki Eidsvoll Holmås.

Norway and South Sudan also signed a new agreement on the Oil for Development programme. Norway is to provide up to NOK 48 million to this programme over the next two years.

“This new oil agreement signals that our cooperation is entering a new and exciting phase, which will include cooperation between the relevant ministries in our two countries. South Sudan's oil revenues can have a great impact on development in this young country. These revenues must therefore be managed in a sound and transparent way, so that they can benefit the people,” said Mr Holmås.

So far, development cooperation between Norway and South Sudan has included transfer of Norwegian expertise on petroleum management, assistance in drawing up new legislation, and training of South Sudanese oil sector employees. It has also funded the building of offices for employees at South Sudan's petroleum directorate.

State Secretary Torgeir Larsen signed the agreements on behalf of the Minister of International Development in the capital of South Sudan, Juba, yesterday.