African Reserves

South Sudan Petroleum Minister confirms participation in Africa Energy Week 2022

African Energy Week (AEW), Africa‘s leading investment platform for the oil and gas sector, is proud to announce that the Hon. Puot Kang Chol, Minister of Petroleum of the Republic of South Sudan, will attend and participate in AEW 2022, which will be held from October 18 to 21, 2022 in Cape Town. Representing the only oil-producing country in East Africa, the Minister brings a wealth of experience that emerging oil and gas producers and major oil and gas producers across the continent can replicate to boost production and use their hydrocarbon resources to eradicate energy poverty in Africa by 2030.

Hon. Puot Kang Chol is currently leading South Sudan’s efforts to boost oil production through increased participation by foreign investors and increased exploration activities. In June 2021, the Hon. Puot Kang Chol led South Sudan’s Ministry of Petroleum in launching the country’s first petroleum licensing round in which exploration licenses were awarded for Blocks A2, A5, B1, B4 and D2 under the efforts by the government to explore nearly 90% of the oil. and gas reserves that remain untapped. In the first round of three, five initial blocks were offered for sale in the Muglad Basin with the potential to add up to 100,000 barrels of oil per day (bpd). The licensing cycle is part of an effort by the Hon. Puot Kang Chol to boost the country’s oil production from 180,000 to 200,000 bpd in late 2020 and early 2021 to 300,000 bpd by 2023 and then to between 350,000 and 400,000 bpd by 2025.

Recent collaborations between the Ministry of Petroleum of South Sudan and major international and regional oil companies such as China National Petroleum Corporation, Nigerian National Petroleum Corporation, Petronas, Nile Petroleum Corporation and Oil and Natural Gas Corporation have led to large investments in blocks such as blocks 3, 7, 1, 2, 4 and 5A. As a result, South Sudan has managed to expand and stabilize its production capacity in recent years.

However, the lack of oil processing and transportation infrastructure continues to hamper the growth of South Sudan’s oil sector as well as the full monetization of oil resources for economic development. With revenues from the oil sector accounting for nearly 80% of the country’s gross domestic profit, according to Sustainable Energy For All, improving the construction of infrastructure such as transmission pipelines and refineries could help boost Sudan’s economy. from South. With this in plan, the Ministry of Petroleum is seeking to attract more foreign investment to boost its infrastructure development.

At AEW 2022, the Hon. Puot Kang Chol, Minister of Petroleum, will present the opportunities for investors and oil and gas companies in the South Sudanese market and how these opportunities can be exploited to accelerate the large-scale development of the energy sector.

“Despite South Sudan’s vast hydrocarbon reserves, the country is one of the most underdeveloped economies in Africa. Hon. Puot Kang Chol wants to change this by increasing foreign investment in the country’s energy market,” said NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding that “by confirming its participation and his presence at AEW 2022, the Minister seeks to strengthen the country’s ability to manage and monetize its hydrocarbon resources. AEW 2022 provides an ideal platform where deals with international and continental investors, as well as energy market players, will be discussed and signed.

By replicating some of the best practices and regulatory frameworks that major hydrocarbon producing countries such as Nigeria, Angola, Niger and members of the The African Petroleum Producers Organization will present at AEW 2022, South Sudan is committed to ending energy poverty nationally and across the continent.

Hon. Puot Kang Chol will lead panel discussions and participate in ministerial forums focusing on how African hydrocarbon-producing countries such as South Sudan can attract finance to boost the oil and gas market and how hydrocarbons can be used to address energy access and ensure energy independence across the continent. .

After a successful appearance at AEW 2021, Hon. Puot Kang Chol will re-engage and network with other African energy ministers and market players during this year’s edition to lead discussions on the growth of the African oil and gas market and the use of hydrocarbons to shape the energy transition across the continent. AEW 2022 represents the ideal platform for countries like South Sudan to meet investors and sign deals that will drive the growth of the country’s and Africa’s industry.
Distributed by APO Group for the African Energy Chamber.

AEW 2022 is the AEC’s annual conference, expo and networking event. AEW 2022 brings together African energy players with international investors and partners to drive industry growth and development and promote Africa as an energy investment destination. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, cementing the role the event will play in the future. energy of Africa.

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South Sudan Petroleum Minister confirms participation in Africa Energy Week 2022