Home | News    Thursday 4 August 2016

China controls 75% of oil investment in Sudan: minister

separation
increase
decrease
separation
separation

August 3, 2016 (KHARTOUM) - Sudanese petroleum minister Mohamed Zayed Awad said that Chinese companies control 75 percent of foreign investment in Sudan’s oil sector.

JPEG - 23.2 kb
Workers for the China Petroleum Engineering & Construction Corp (CPECC) construct new oil facilities in Sudan. (Photograph: Trevor Snapp/Bloomberg/Getty Images)

Awad told reporters Wednesday upon his return from China that several Chinese companies would launch new oil and gas investments in Sudan.

He pointed that a delegation from the state-owned China National Petroleum Corporation (CNPC) will arrive in Khartoum on August 25th to explore new investment opportunities.

The Sudanese minister added that CNPC seeks to explore for oil and gas in a number of blocks including block 25 in the White Nile state, block 8 in Sennar state, block 2 and 6 in West Kordofan state.

For his part, presidential aide for China affairs Awad Ahmed al-Jazz, who accompanied the minister during his visit to China, said the government has laid out 170 projects in various fields for the Chinese investors.

He added they also discussed the possibility for establishing a free zone, industrial area and a port besides launching health, agriculture, oil and mineral projects.

“We went to China in a delegation including the finance minister, governor of the central bank, petroleum minister, state minister of foreign affairs besides a number of senior officials and we held consultations with the Chinese side and it turned out that we held identical views,” he said.

Earlier this year, CNPC unveiled a plan to cut its investments and production in a number of countries except Sudan due to falling oil prices.

The Chinese oil giant began its business in Sudan in 1995.

Sudan lost 75% of its oil reserves after the southern part of the country became an independent nation in July 2011, denying the north billions of dollars in revenues. Oil revenue constituted more than half of the Sudan’s revenue and 90% of its exports.

Sudan currently produces 133,000 barrels of oil per day (bpd). The country’s production is stationed mainly in the Heglig area and its surroundings, as well as western Kordofan.
Following South Sudan’s secession, several foreign companies started exploration in new oil fields.

During a visit to New Delhi last January, Awad offered three gas and oil blocks to India’s ONGC Vides.

(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


National dialogue building nation 2017-05-22 21:10:41 By Amb. Dhano Obongo Initially, I congratulate and commend H.E the President of the Republic of South Sudan, Gen. Salva Kiir Mayardit, for recognising the need for a national dialogue among 64 (...)

The raging just revolution in Darfur will continue burning until victory 2017-05-22 21:04:22 By Mahmoud A. Suleiman Author Mahmoud Yusuf says that we live in a historical stage full of serious events that will affect the future of mankind on this planet, including what is related to (...)

South Sudan: How culture of revenge inhibits development and progress 2017-05-13 08:09:39 By Steve Paterno Admittedly, revenge or the act of it is inherently human in nature. The human beings since biblical times could not dissuade from the proverbial practice of an 'eye for an eye.' (...)


MORE






Latest Press Releases


HRW denounces "collective punishment" in South Sudan’s Wau 2017-04-15 07:06:48 Human Right Watch South Sudan: New Spate of Ethnic Killings Urgent Need for Justice; UN Should Increase Patrols in Wau (Nairobi, April 14, 2017) – Government soldiers and allied militias (...)

Statement by South Sudanese Communist Party on the National Dialoguel 2017-03-22 05:44:42 The Communist Party of South Sudan On the Initiative of the National Dialogue The initiative taken by the President of the Republic of South Sudan declaring a need for a national dialogue is an (...)

An Appeal to President of the Republic of South Sudan 2017-03-15 07:22:45 Dear. Mr. President, I write to appeal to you for the release of political detainees now in the custody of the National Security Service at Jebel and other detention facilities. In doing this, I (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.