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


USA meddling in independence of South Sudan amidst coup d’état 2016-07-25 07:23:54 by Steve Paterno and Scott Morgan When a Country celebrates their Independence Day it’s generally considered to be a festive occasion. For the United States, John Adams envisioned a day with (...)

Sudan and military coups 2016-07-23 22:02:23 The military coups Epidemics handcuffed progress of Sudan By Mahmoud A. Suleiman Tuesday July 19, 2016 marks the 45th anniversary of the military coup, which led by Maj. Hashim Ata against the (...)

South Sudan Reality: Painful independence, failed leadership! 2016-07-14 00:33:25 By James Okuk Thank God that some of us are still alive and are able to communicate from Juba today after being confined in a prison-like and imposed hunger situation since Friday 8th July 2016, (...)


MORE






Latest Press Releases


Sudanese students, activists are at risk of torture: HRW 2016-05-25 14:40:51 Human Rights Watch Sudan: Students, Activists at Risk of Torture Free Detainees; Investigate Abuses (Nairobi, May 25, 2016) – Sudanese national security officials have detained dozens of (...)

South Sudan: Civilians Killed, Tortured in Western Region 2016-05-24 22:01:01 Human Rights Watch For Immediate Release South Sudan: Civilians Killed, Tortured in Western Region Provide Justice for Army Abuses in Western Regions (Nairobi, May 24, 2016) – South Sudanese (...)

Open Letter to President Salva Kiir and 1st Vice President Dr. Riek Machar 2016-04-18 12:36:12 South Sudan Women United April 15, 2016 Your Excellencies: South Sudan Women United writes to congratulate you both on the steps you are taking towards ending violence in South Sudan and (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.