South Sudan will announce a new oil and gas licensing round and an environmental audit tender for the country’s producing oilfields in October.
Petroleum Minister Awow Daniel Chuang is expected to make the grand announcement at two consecutive International Conferences in both Cape Town and Juba.
The events, Africa Oil & Power 2019 in Cape Town South Africa and South Sudan Oil & Power (SSOP) 2019 in Juba, will be held on October 9-11 and and October 29-30, 2019 respectively.
Over 300 delegates are expected to attend SSOP conference 2019, which has confirmed partnerships with South Sudan’s Ministries of Petroleum, Energy and Dams, and Finance and Economic Planning; as well as banks operating in the country, national oil company Nilepet, major investors Petronas and CNPC, and joint operating oil companies Dar Petroleum Operating Company, Greater Pioneer Operating Company, Sudd Petroleum Operating Company.
Recapitulating from a five-year civil war, South Sudan is now actively seeking exploration, seismic and geophysical companies to gather and present exploration data at the events and invites Canadian, the U.S. and European companies to SSOP 2019 to gain a better understanding of the East African country’s oil and gas sector.
Total oil production is nearly 180,000 barrels per day (bpd), official figures show. But the government is keen to reach pre-war levels of 350,000 to 400,000 bpd by mid-2020.
Africa Oil & Power Chief Executive Guillaume Doane said “This is an incredible milestone in South Sudan’s plans to double oil production by 2020.”
“The country has a massive onshore reserve base and vast unexplored areas that make a licensing round very exciting. We are excited to host the announcement of the 2020 oil and gas licensing round at Africa Oil & Power 2019 and South Sudan Oil & Power 2019,” Doane said in an emailed statement.
Resumption of production at several key oilfields in South Sudan, a landmark peace deal celebrated on October 2018 and cooperation with neighboring Sudan has significantly improved investment conditions for the energy sector in the country.
There has also been an uptick in foreign investment through oil and gas exploration companies including Oranto Petroleum, which signed a six-year exploration and production sharing agreement (EPSA) for Block B3 in 2017 and South Africa’s Strategic Fuel Fund, which in March this year signed an EPSA for Block B2.
The event will host panels on finance, oilfield technology, and community development.