Ezekiel Lol Gatkuoth, South Sudan’s minister of petroleum ambassador, announced that the government is inviting more refiners and traders to take part in its upcoming competitive tender for government-owned crude cargoes
“Due to efforts by the government, under the leadership of President Salva Kiir to increase current production levels, with the target of reaching previous levels of more than 300,000 bpd, we do expect to put more crude on the market and are seeking to expand our base of buyers,” he said.
The minister stated that South Sudan would sell its crude to spot and term buyers through a competitive and transparent tender process.
“Prepayments allow the government to access revenue at competitive rates, especially as the government continues to finance the ongoing peace process,” he added.
South Sudan has embarked on a peace process under the leadership of President Salva Kiir and First VP Taban Deng Gai, which has made a significant contribution to restarting work on previously abandoned oil fields.
Operating companies nationwide are engaged in preparing for the resumption of oil production, likely to increase production to 200,000bpd by the end of 2019. The expected increase in production has already had a significant positive impact on the economy of South Sudan, with thousands of young South Sudanese newly employed by oil operators contributing to increased production efforts.
“The government continues to be optimistic about the potential of South Sudan and the investment opportunities for energy industry players here. Many young South Sudanese look at our oil industry for training, empowerment, innovation, and not just any job but good jobs. The oil industry will continue being the largest investor in the country and therefore has a special responsibility to work with the government and all South Sudanese to ensure that the resources benefit every South Sudanese,” he concluded.
