The African Energy Chamber has said it is encouraged by the progress made in South Sudan’s oil sector after the peace agreement.
In a press statement on Thursday, the chamber also said the success of the South Sudan Oil and Power 2018 conference was a step in the right direction.
The conference was attended by over 750 participants representing upstream, midstream and downstream sectors of the oil sector from Africa, Europe, North America and the Middle East.
Noting the ministerial delegations from many countries including Equatorial Guinea, Sudan, Somalia, Saudi Arabia, Nigeria, Russia and Uganda, the chamber said the success of the conference was “an indication of South Sudan’s increased attractiveness for African and international investors, as the East African nation works to ensure a stable peace and has doubled efforts to ramp up production and drill more wells.”
The chamber’s Executive Chairman NJ Ayuk noted that: “The presence of several international oil companies in Juba this week is very encouraging and shows that South Sudan is doing its best to restore the trust of the international investment community and should be encouraged by all parties.”
African Energy Chamber had supported South Sudan’s efforts to build a lasting peace, which resulted in a new peace agreement signed last month between rival factions.
“The local and international oil community has an obligation to support both peace talks and the South Sudanese leadership to promote peace and reconciliation,” Ayuk said, and called on “the government to continue its efforts in encouraging an enabling environment, promoting local content and prioritising the role of women in the oil sector.”
Commending President Salva Kiir and the Minister of Petroleum of South Sudan, Ezekiel Lol Gatkuoth’s continuous efforts to work with other Africans, OPEC and Non-OPEC nations in balancing and stabilising the oil market, the chamber said it was “very encouraging to our members as we all work to prevent another supply glut in the oil sector.”
South Sudan remains under-explored, despite being East Africa’s oldest and biggest oil producing nation. Although, production is being ramped up, South Sudan’s latest oil and gas entrant, Oranto Petroleum, started exploration on Block B3 a year ago.