South Africa to invest $1 billion in South Sudan’s oil sector

The republic of South Africa is to invest in Sudan’s oil sector says,  SA minister of energy Jeff Rabede and his Sudanese equivalent for Petroleum, Ezekiel Lol Gatkuoth.  

The two Ministers met on Friday, signed a MoU which includes the involvement of South Africa in constructing the oil refinery and exploration of several oil blocks.

Gatkuoth told the media that the agreement also extends to collaboration in the construction of a pipeline to serve fields located in the south of the country. The minister further highlighted the importance of constructing a new pipeline – the country exports its crude through another pipeline that goes to a port in neighbouring Sudan.

“When this refinery is complete, it will have the capacity of producing 60,000 barrels of oil per day,” the South African Minister said.

 

 

Source: IAfrica

 

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