Home | News    Tuesday 13 May 2014

Malaysia’s Petronas to boost oil investments in Sudan

separation
increase
decrease
separation
separation

May 12, 2014 (KHARTOUM) – Sudan’s oil minister, Makkawi Mohamed Awad, announced on Monday that Sudan’s oil reserve is estimated at 4 billion barrels, predicting an increase in oil production in the coming years.

JPEG - 16.5 kb

He disclosed in press statements following his meeting with the president of the Malaysian oil and gas company, Petronas in Kuala Lumpur on Monday that new investors have started exploration in Sudan’s promising new oilfields.

Awad urged Petronas to increase its oil investments in Sudan and begin explorations in new oil blocs, praising its role in Sudan’s first oil project.

The meeting discussed the possibility of increasing investments in areas that were proven to enjoy strong evidence of oil presence.

According to Sudan’s oil ministry, the president of Petronas agreed to increase his company’s investments through exploring in new oil blocs.

Petronas’ business involvement in Sudan began in 1995. Since then, Petronas’ presence in this African nation has expanded in both the upstream and downstream sectors of the country’s oil and gas industry.

Oil used to be the main source for Sudan’s budget until southern secession in July 2011, when Khartoum lost 75 percent of its oil production and its status as oil exporter overnight.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Wedding in Juba - How can you tell if a bridegroom works for Nilepet? 2017-02-24 05:25:41 By Deng Kiir Akok The Nile Petroleum Corporation is a national Oil and Gas Corporation, which engages in oil exploration, production and marketing. Famous for its abbreviation Nilepet has been a (...)

Bashir’s congratulation for Trump remains double-edged sword 2017-02-21 08:47:41 By Mahmoud A. Suleiman This is a note to the readers of this article about my use of the phrase double-edged sword. It means that Omar al-Bashir’s Speedy congratulation offer to Donald Trump (...)

South Sudan: Why ’NO’ for peace and ’YES’ for war 2017-02-20 20:45:12 By Tor Madira Machier The region and the International community has been on a campaign in a bid to end the civil war in South Sudan right after its inception in December 2013, yet the very (...)


MORE






Latest Press Releases


Militias of Bashir’s Regime and the Proxy War (1) 2017-02-08 21:49:09 Sudan Democracy First Group Militias of Bashir’s Regime and the Proxy War (1) War in the Blue Nile: Militias in the hunt of refugees and displaced population Introduction Throughout its rule, (...)

More refugees flee to Uganda than across Mediterranean 2017-01-25 09:15:39 January 25, 2017 Uganda welcomed more refugees last year than the total number of refugees and migrants crossing the Mediterranean into Europe. “Europe should learn from the way Uganda and other (...)

Carter Center welcomes new regulations on humanitarian affairs 2017-01-12 07:53:16 The Carter Center ATLANTA, Januarg 11, 2017 – The Carter Center welcomes the recent regulations issued by the government of Sudan aimed at facilitating humanitarian relief throughout the country (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.