Leveraging on decades of industry experience, South Sudan and Equatorial Guinea have signed a Memorandum of Cooperation that sets out the terms of a bilateral relationship on oil and gas production.
The countries will use the agreement as a basis for exchanging information on policy and regulation; promoting upstream, downstream and infrastructure projects; and collaboration between national oil companies Nilepet and GE Petrol.
Ezekiel Lol Gatkuoth, Minister of Petroleum, South Sudan said it also signals the country’s dedication to investing in oil and gas as a driver for South Sudan’s growth.
“Partnership is what fuels the oil industry. South Sudan is proud to share its experiences with Equatorial Guinea and to learn from the great work of our fellow African producer,” Gatkuoth added.
Equatorial Guinea’s Ministry of Mines and Hydrocarbons will assist South Sudan’s Ministry of Petroleum to revitalize its oil and gas industry by extending its expertise in oil and gas licensing rounds; gas monetization and eliminating flaring; investing in power plants using flared gas; local content and training personnel.
Equatorial Guinea’s Minister of Mines and Hydrocarbons Gabriel Mbaga Obiang Lima reiterated his country’s readiness to work with South Sudan to benefit the people and economies of both countries.