The Republic of South Sudan has entered into a partnership agreement with the African Energy Chamber, the voice of the continent’s energy sector. The technical assistance will support South Sudan in building an enabling environment for business and a world-class oil industry for the benefits of all citizens and investors
The deal, described as a technical assistance cooperation agreement with the Ministry of Petroleum of the Republic of South Sudan, aims to strengthen the country’s capacity to manage its hydrocarbons industry.
The Chamber will mobilize capacity building initiatives to make this possible. It will work on reforms to boost an enabling environment for oil investors; it will invest in energy access initiatives.
Over the past year, South Sudan has demonstrated a commitment to peace, which gives the country an opportunity to build long-lasting economic development and strengthen its engagement with the regional and international investment community.
The energy sector has been touted as the pillar of the country’s economic growth. As oil and gas exploration and production activity continues to picks up steam in South Sudan, the Chamber believes that there is a growing need to increase the level of local expertise required to manage the petroleum sector sustainably, push for rural energy access, and create long-lasting economic empowerment and sustainable development projects.
“We continue to do a remarkable job when it comes to oil field resumption. We are seeing an increase in production,” commented South Sudan’s Minister of Petroleum, Ezekiel Lol Gatkuoth following the announcement.
“However, capacity building programs are needed to have our citizens work and manage our oil resources properly. We welcome the support of the oil sector through the African Energy Chamber in its collaboration with our country,” he added.
The technical assistance will support South Sudan in building an enabling environment for business and a world-class oil industry for the benefits of all citizens and investors.
Under the agreement, the Chamber will be conducting an immediate needs assessment of South Sudan’s oil and gas sector, detailing the key institutional and policy reforms required to strengthen capacity across the country’s value-chain. The Chamber will also work on key energy access initiatives and mobilize financing for South Sudan.
“South Sudan is East Africa’s only mature oil producer so the interest of oil companies to invest in the market as it puts back damaged field into production is increasing,” said Africa Energy Chamber Executive Chairman, NJ Ayuk.
“Now is the time for the oil industry to rally around South Sudan’s efforts to build a sustainable hydrocarbon sector whose revenues equitably benefit all South Sudanese. The strengthening of South Sudan’s oil sector is a priority as it will provide a pillar for the development of East Africa’s entire energy value-chain,” he concluded.