Progress made in South Sudan’s oil sector after the country’s recent peace agreement will boost investment within the industry, the African Energy Chamber, the representative body for the continent’s energy sector, has affirmed.
The Chamber supported South Sudan’s efforts to build a lasting peace, which resulted in a new peace agreement signed last month between rival factions.
The Chamber said that the success of an event titled the South Sudan Oil & Power 2018 conference, which was attended by over 750 participants representing upstream, midstream and downstream sectors of the oil sector from Africa, Europe, North America and the Middle East is a step in the right direction.
“We are also encouraged by the Ministerial delegations from many countries like Equatorial Guinea, Sudan, Somalia, Saudi Arabia, Nigeria, Russia and Uganda. The success is an indication of South Sudan’s increased attractiveness for African and international investors, as the East African nation works to ensure a stable peace and has doubled efforts to ramp up production and drill more wells,” Chamber authorities said in a statement.
“The presence of several international oil companies in Juba this week is very encouraging and shows that South Sudan is doing its best to restore the trust of the international investment community and should be encouraged by all parties,” commented Executive Chairman NJ Ayuk from Juba.
“The local and international oil community has an obligation to support both peace talks and the South Sudanese leadership to promote peace and reconciliation. We also call on the government to continue its efforts in encouraging an enabling environment, promoting local content and prioritizing the role of women in the oil sector” he said.
Following the agreement, the African Energy Chamber commended South Sudan’s President Salva Kiir for meeting with Azhari Abdel-Gadir Abdalla, Minister of Petroleum and Minerals of the Republic of Sudan; Gabriel Obiang Lima, Minister of Mines and Hydrocarbons of the Republic of Equatorial Guinea; Lokeris Peter, Minister of State for Energy and Minerals Development, Republic of Uganda; and Mahaman Gaya, Secretary General of the African Petroleum Producers’ Organization (APPO) to encourage collaboration on oil and gas matters.
According to the African Energy Chamber, South Sudan remains under-explored, despite being East Africa’s oldest and biggest oil producing nation.