South Sudan’s national oil company Nilepet is calling on investors to secure funding for the construction of an oil refinery in the country’s Block 5A.
According to Director General of Finance, Services and Administration at Nilepet Dr. Matiok Santino Akuei, the project has amassed a total investment of $29 million, with the refinery’s estimated initial costs currently standing at $3 billion.
As such, the seventh edition of the nation’s official energy event South Sudan Oil & Power (SSOP) 2024 invites investors to explore and engage with opportunities across the upstream, midstream and downstream sectors of the country’s burgeoning oil industry.
SSOP 2024 positions South Sudan at the center of investments and partnerships in the East African energy landscape. Taking place in Juba on June 25-28, 2024, the conference and exhibition invites investors to explore and engage with opportunities across the hydrocarbons, renewable energy and power sectors. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
“We have a vibrant oil and gas sector that is well-defined, and we will support investments in upstream, midstream and downstream activities,” stated Dr. Akuei, adding, “All we need from investors is to look at our economic stability. South Sudan is stable for investment and our nation has the potential for a vibrant market for investors.”
South Sudan – which produces heavy, acidic Nile and Dar blend crudes – plans to almost double oil production to 350,000 barrels of oil per day (bpd).
The country currently has one refinery, Bentiu, which is situated in the northwest of South Sudan and is capable of producing approximately 7,000 bpd.
The new refinery will cater to potential markets in Kenya, Uganda and the Republic of the Congo, while Sudan remains a promising market for heavy fuel in the East African region.
In addition to the construction of a new refinery, Dr. Akuei also announced Nilepet’s plans to venture into agriculture and investments to boost the country’s oil and gas industry and propel socioeconomic development.
South Sudan Seeks Investors for New Oil Refinery
March 28th, 2024
March 28th, 2024
Courtesy of Energy, Capital & Power, an article on South Sudan’s efforts to find investors for a new oil refinery:
This entry was posted on Thursday, March 28th, 2024 at 2:43 am and is filed under South Sudan. You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.
ABOUT
Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.