Representing one of the fastest growing frontier markets in Africa, South Sudan holds significant opportunities for both regional and international investors. The country has the third-largest oil reserves in sub-Saharan Africa – measured at 3.5 billion barrels produced annually – and yet, 90% of reserves remain untapped. With a renewed peace agreement opening the country up for business, and the prioritization of exploration intended to offset declining reserves in maturing oilfields, South Sudan presents lucrative opportunities for oil majors and regional actors looking to cash into the unexploited market. Accordingly, the launch of the country’s first official 14-block licensing round this year, and the introduction of new production sharing agreements, has incentivized frontier exploration, establishing the country as a competitive destination for international investment. Minister of Petroleum Puot Kang Chol will promote these opportunities at Africa Energy Week 2021 in Cape Town, offering international stakeholders a detailed overview of the emerging market and its vast opportunities.
SOURCE: AFRICA NEWS