Juba secures $2 billion in oil investments, vows more firms will join

Photo: File/africanarguments.org

Juba, December 18, 2018 (SSNA) — South Sudan’s petroleum minister, Ezekiel Lol Gatkuoth, said his government has so far secured more $2 billion dollars from Malaysia, South Africa, Nigeria, and local oil firm based in Juba.

Ezekiel revealed that many oil firms pledged more money with a South African state-run oil firm pledging $1 billion, Malaysia’s Petroliam Nasional $300 million, Oranto Petroleum International Ltd of Nigeria $500 million, and Juba-based Trinity Energy oil firm with $350 million.

The minister also said he expects oil exploration and production to increase in early 2019 and wants people to know that South Sudan is no longer at war.

“I would say early next year we would be having exploration, production and sharing agreements signed to have new players in the oil industry,” he said in an interview in the capital, Juba. The narrative has changed from South Sudan being in war to South Sudan is coming back again,” he said.

Ezekiel further disclosed that Spanish, Russian, and Emirati oil firms are interested to join South Sudan’s oil sector.

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