Nile Petroleum Corp (NilePet) Managing Director Chol Deng Thon Abel urged Saudi businesses in general and oil giant Aramco to invest in South Sudan. The call aims to strengthen economic, investment and trade cooperation between Riyadh and Juba.
Abel revealed the Juba government’s plan to attract foreign investment by establishing around 23 new exploration zones.
The managing director of NilePet underlined the importance of cooperation between Juba and Riyadh in the field of the oil industry, due to Saudi Arabia’s leadership on the ground and its vast global experience in exploration and development. oil production.
Abel noted that oil exploration and production began in the first half of the 20th century, noting that the Kingdom has accumulated extensive experience for almost a century.
Saudi Arabia has acquired complete knowledge of all the technical requirements in terms of training human cadres and equipping the technology necessary for the oil industry.
“Given South Sudan’s recent experience in oil exploration and production, there is an urgent need for technical assistance,” Abel said, adding that assistance can be obtained through intermediary for the oil companies of the Kingdom which invest in the oil sector of South Sudan.
He revealed that the area in which the technical surveys were carried out covers no more than 10% of the country.
Regarding the imminent conclusion of partnerships or agreements between South Sudan and Saudi Arabia in the oil sector, Abel explained that there is a strong will on both sides to benefit from the experiences of the Kingdom, especially in the light of the policy of openness pursued by the Kingdom under the leadership of the Custodian of the Two Holy Mosques, King Salman, and Crown Prince Mohammed bin Salman.
“As Managing Director of NilePet in 2020, I have sent a letter to the CEO of Aramco urging him to invest in oil in South Sudan and train the national cadre in South Sudan…However, the spread of the coronavirus pandemic has prevented this from moving forward,” Abel said.
On Juba’s plan to exploit the oilfields in a way that will ensure increased production, Abel explained that the overall strategy is based on attracting foreign direct investment to bring new fields into operation in cooperation with new investors. .
He noted that NilePet also attaches great importance to the introduction of modern technologies and improved or improved methods of oil extraction in cooperation with international companies in the field.