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


Darfur Conflict: why Mbeki has to soberly reflect on the missing links 2015-03-25 21:31:44 By Trayo Ahmed Ali There is no way to deny the fact that the protracted Darfur conflict has, at certain junctures received sufficient international attention. Certainly the velocity of the (...)

How can the U.S. exercise leadership in South Sudan’s peace process? 2015-03-25 08:54:55 By: Amir Idris In light of the recent collapse of the peace process and the resumption of the military confrontations between the Government of South Sudan and the SPLM in Opposition, the United (...)

Sudan, the Obama Administration, and the costs of rapprochement 2015-03-25 08:54:43 By Eric Reeves Sudan holds elections in mid-April, including a vote for the next President. It is a foregone conclusion that the victor will be the same man who has ruled Sudan with an iron fist (...)


MORE






Latest Press Releases


Seventy-six organizations call for publication of AU Inquiry Report as deadline for peace passes 2015-03-07 05:04:51 6 March 2015: FOR Immediate Release SOUTH SUDAN: The African Union (AU) Peace and Security Council (PSC) should immediately consider, publish and disseminate the final report of the Commission (...)

Archbishop Taban calls for reconciliation and forgiveness 2015-02-23 09:30:38 February 2015 Greetings from Peace Village, Kuron. It is really a Peace Village. I had my peaceful Christmas and a Prosperous New Year in Kuron. God really blessed the area with Peace. You can (...)

WFP appreciates US additional support for S. Sudan’s hungry 2015-02-19 08:20:15 17 February 2015 (JUBA)- The United Nations World Food Programme (WFP) has welcomed a contribution of US$165.5 million from the United States Agency for International Development (USAID) to feed (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.