With emerging opportunities in South Sudan’s upstream, downstream and power sectors, CEO of Sahara Group Valéry Guillebon encouraged investors to enter the oil rich country as it works to increase its presence in the global market.
Speaking at the second annual South Sudan Oil & Power conference hosted by Africa Oil & Power last week in Juba, Guillebon said: “The demand for fuel in South Sudan, considering its recovering economy will grow substantially over the next few years and ensuring that petroleum products are readily available locally, is essential.”
With the country’s population expected to increase to 15 million by 2020, the increase in demand for petroleum products is inevitable and presents an opportunity for investors to enter the country or increase their presence.
“South Sudan’s crude production currently represents 15 percent of non-OPEC crude production in Africa and a significant portion of crude production in East Africa. As growth continues in Asia, especially in India, and Africa begins to industrialize, more crude will be needed for refineries to supply the downstream demand for fuels. Consequently, demand for South Sudan crude is expected to grow as well,” Guillebon explained.
Further, Guillebon appealed to East African countries to cooperate to drive more cost-effective solutions which will see the development of oil, gas and power infrastructure across the region.