South Sudan’s Minister of Petroleum, Hon. Amb. Ezekiel Lol Gatkuoth, says that South Africa’s Strategic Fuel Fund (SFF) has ‘room to farm in’ a partner in carrying out activities in Block B2.
The recently signed $1 billion exploration and production sharing agreement will see the SFF conduct exploration activities in the block and build a 60, 000 barrel per day oil refinery and pipeline in the Central African country.
The Minister told Bloomberg that the South Sudanese government has the right to approve any partners, with the transaction being subject to capital gains tax.
In approving any partnership, the government will consider the role the relationship will play in boosting production as the country works to restore its output to pre-war levels.
Under the agreement, the SFF will own and operate Block B2 alongside South Sudan’ s national oil company, Nile Petroleum Corp.