Email
Print
Save
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.
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)
Latest Comments & Analysis
A new approach to peace 2018-04-23 06:16:35 By Miroslav Laják When the United Nations was created, its founders envisioned a different kind of world. A world in which disputes were resolved in meeting rooms and not battlefields. A world (...)
Bring Sudanese troops home now 2018-04-21 15:25:57 By Salah Shuaib The Sudanese troops fighting hard now in Yemen, who were sent there by order of al-Bashir, should return home. The process of implementing this task is much challenging. But, we (...)
Dissolution and formation of the Cabinet - 2013 2018-04-20 08:00:00 Amb Telar Deng The events that led to the 2013 dissolution of cabinet can be traced back to the deep mistrust that fermented back in 1991 when leaders failed to close ranks. After the 1991 (...)
MORE