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


Appointment of Dr. Riek as FVP is welcome but...? 2016-02-13 13:18:16 By James Okuk “Geography has made us neighbors. History has made us friends. Economics has made us partners, and necessity has made us allies.” – President J.F. Kennedy. On Thursday February 11, (...)

Formation of “TGoNU” without Constitutional Amendment: Is it a right of necessity? 2016-02-09 20:30:29 By Mabor Maker Dhelbeny In its 55th Extra-ordinary Meeting, held on 30th – 31st January, 2016 in Addis Ababa, Ethiopia, the IGAD Council of Ministers in the communiqué on South Sudan: (1) (...)

Terrorism Tops African Summit Agenda: Lip service or strategic move? 2016-02-07 04:56:59 By Trayo A. Ali In Africa, terrorism is not only strategic threat to continent political security and destabilization, but more importantly it also constitutes fundamental challenge and eminent (...)


MORE






Latest Press Releases


Civil society group decries delay of S. Sudan transitional gov’t 2016-01-29 18:08:53 South Sudan Civil Society Alliance Date: 29.1.2016 For the immediate Release Press Release Following the passing of deadline of the formation of Transitional Government of National Unity in the (...)

Africa: Strengthen steps to end child marriage 2015-12-14 08:04:41 December 10, 2015 African governments should coordinate action to improve laws, education, health care, and public awareness to end the scourge of child marriage, Human Rights Watch said today (...)

Professor Akolda, it is too early for you to go 2015-12-06 06:36:15 I learnt from social media of the untimely departure of Professor Akolda Maan Tier on the 30th Nov 2015, whom I knew and admired, as one of the great, committed sons of both Sudans, who dedicated (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.