South Sudan is targeting to attract investors by announcing the Petroleum Licensing Round for 2020 and a tender for Environmental Audit for its Oil fields. South Sudan will host its third Oil and Power conference in Juba on the 29-30th Of October 2019. The forum, which is sponsored by Africa Oil and Power, will host panels on oil and technology, finance, and development.
Sudan will launch the same in the Annual Africa Oil and Power conference starting on the 9th -11th of October in South Sudan, where Senegal is also set to announce its 2020 licensing round.
Currently, South Sudan produces 180,000 barrels per day (bpd). The oil-producing nation aims to produce 350,000 – 400,000 bpd by mid-2020. South Sudan’s Ministry of Petroleum estimates that up to 70% of its oil reserves are still unexplored.
In 2012 South Sudan plummeted to civil wars with its neighbor Sudan, which brought the country’s oil production Industry to a halt. The oil-producing Infrastructure was destroyed during the war.
After a peace treaty signed in 2018, South Sudan is slowly returning to its position among oil producers’ big leagues.