Petronas may invest in South Sudan oil blocks, presidency says

By Okech Francis on 9/11/2018

JUBA (Bloomberg) -- Malaysian state energy company Petroliam Nasional Bhd. is interested in developing oil blocks in South Sudan, President Salva Kiir’s office said.

Kiir and Petroleum Minister Ezekiel Lul Gatkuoth on Tuesday held talks with a Petronas delegation headed by Mohd Anuar Bin Taib, the company’s executive V.P., according to a statement published by the Presidential Press Unit in the capital, Juba. The company is interested in investing in blocks (A) and (B), it said, without providing further details.

“The meeting discussed the company’s future in the country and its desire to work for oil exploration,” it said. “The president welcomed the visiting delegation and welcomed the desire of Malaysia Petronas Company to invest in the oil sector in South Sudan.”

South Sudan, which has sub-Saharan Africa’s third-biggest oil reserves, is resuming crude output curtailed by almost five years of conflict before a peace agreement was signed last month. Petronas has had a presence in the country for “several years” and is interested in expanding its business, Anuar said.

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