South Sudan has announced a new oil discovery at the Adar oilfield in Block 3. The find contains more than 300 million barrels of recoverable oil.
The finding was made by the Dar Petroleum Operating Company consortium, which is led by China National Petroleum Corporation (CNPC) – a major investor in South Sudan’s oil sector.
South Sudan’s Oil Minister, Awow Daniel Chuang, confirmed the massive discovery on Tuesday, noting that more discoveries in the region were on the horizon.
“We are looking at over 300 million reserves with the hope of more discoveries because there are more two more wells that are under review,” he said, adding that the country – which currently transports oil to the Red Sea through Khartoum in Sudan – is also looking for new export opportunities.
“We are now preparing to start constructing an inland crude pipeline to the main export pipeline which evacuates crude via Port Sudan at the Red sea for export and shipments will commence in the last quarter of 2020,” Chuang stated.
South Sudan currently produces 185,000 barrels of oil per day (bpd) and is looking to increase that amount to 200,000 bpd by 2020.