Oil out-put slips from 250,000 barrels to half a day due to insecurity
South Sudan has enormous proven onshore oil reserves, but production has slipped from 250,000 barrels to about 120,000 barrels per day as two oilfields have been shut down due to insecurity, Guillaume Doane, the Chief Executive Officer of Africa Oil and Power has said.
He divulged this in his closing remark during a two-day South Sudan Oil and Power 2017, conference in Juba yesterday. It was the country’s first ever energy and infrastructure conference, aimed at attracting investment into oil, gas sector, power and supporting infrastructure.
The conference brought together four hundred delegates. South Sudan’s Vice President James Wani Igga and Ministers of Petroleum, Energy, Trade, Roads, and Environment, the Presidents of all South Sudan’s joint operating companies, representatives from international oil companies CNPC, Petronas and Tullow Oil and ministerial delegations from Uganda and Sudan were also participated.
“We were blown away by the attendance and by the level of engagement from participants, which we believe reflects new optimism for South Sudan,” said Guillaume Doane. “This is a country with proven below-ground potential and an increasing commitment to resolving above – ground risks. The international investment community is recognising that the market is ripe for resurgence,” he added.
South Sudan has a capacity to produce more than twice this amount. Major issues discussed during South Sudan Oil and Power included; enhancements of security at Northern Oilfields, increasing improved and enhanced oil recovery techniques at maturing fields with flagging output and securing financing for power and infrastructure.
During the conference, representatives of the governments of South Sudan and Sudan met to discuss how to strengthen oil trade. The governments of Uganda and South Sudan also discussed how to upgrade energy infrastructure in the region.
“I can’t believe what we have accomplished. With Africa Oil and Power, we have started something big,” said Ezekiel Lol Gatkuoth, South Sudanese Minister of Petroleum. South Sudan is the third oil-producing country in Sub-Saharan Africa after: Nigeria and Angola.