By SPECIAL CORRESPONDENT
newsdesk@reporter.co.ke
The Government of the Republic of South Sudan and Africa Oil & Power (www.AfricaOilAndPower.com) have agreed to work in partnership on a list of initiatives to promote foreign direct investment in the East African country.
President Salva Kiir Mayardit, of South Sudan, will present a keynote address at Africa Oil & Power, to be held June 5-7, 2017 in Cape Town. The conference will also host a special Market Spotlight session on South Sudan which will feature Minister of Petroleum Ezekiel Lol Gatkuoth alongside key industry leadership to discuss developments in the industry.
The Government of South Sudan has adopted a strongly pro-business attitude with the hope that expansions in the petroleum sector and heightened exploration activity will stimulate its economy. Once one of sub-Saharan Africa’s mightiest hydrocarbon economies, South Sudan has seen oil production decline since the country has grappled with civil conflicts with a rebel faction.
South Sudan currently produces 130,000 barrels per day but is capable of daily output of 500,000 barrels. The Ministry of Petroleum has been undergoing some important negotiations with oil companies to enter the market and has previously considered launching its first licensing round.
The Market Spotlight session on South Sudan will gather the industry’s key participants to discuss developments in the sector, including exploration activity, production outlooks, energy security, corporate finance, downstream and export infrastructure. Africa Oil & Power will produce a range of resources for the South Sudanese government to promote its activities.
“We are truly honored that the Government of South Sudan has agreed to participate in Africa Oil & Power,” said Guillaume Doane, CEO of Africa Oil & Power. “South Sudan has a proud legacy in the petroleum sector and has shown a huge willingness to attract companies to the country and develop its abundance of hydrocarbons. The country recognizes that unlocking those natural resources is vital to fostering economic growth, restoring peace and stability and we hope to be useful in those efforts.”
“South Sudan is truly honored to participate in Africa’s premier energy industry event,” said Ezekiel Lol Gatkuoth, Minister of Petroleum for South Sudan. “Our country strives to restore its rightful place in Africa’s hydrocarbons sector and we see this an opportunity for our head of state H.E. General Salva Kiir Mayardit to outline our vision for the industry and attract investors to South Sudan.”
The participation of the South Sudan government follows the commitment of several high-level government to Africa Oil & Power 2017, including: H.E. Patrice Trovoada, Prime Minister of São Tomé and Principe; and H.E. Francisco Pascual Obama Asue, Prime Minister of Equatorial Guinea; H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea; and Hon. Tina Joemat-Pettersson, Minister of Energy for South Africa.