Managing Director of Nile Petroleum Corp (NilePet) Chol Deng Thon Abel urged Saudi companies in general and oil giant Aramco to invest in South Sudan. The call aims to strengthen economic, investment and trade cooperation between Riyadh and Juba.
Abel revealed the Juba government’s plan to attract foreign investment by establishing approximately 23 new exploration areas.
The NilePet managing director stressed the importance of cooperation between Juba and Riyadh in the field of the oil industry, because of Saudi Arabia’s field leadership and extensive worldwide experience in oil exploration and production.
Abel noted that oil exploration and production began in the first half of the twentieth century, noting that the Kingdom accumulated extended experience for nearly a century.
Saudi Arabia has acquired full knowledge of all technical requirements in terms of training human cadres and equipping the necessary technology in the oil industry.
“Given the recent experience of South Sudan in the field of oil exploration and production, it is in dire need of technical assistance,” explained Abel, adding that the help can be achieved through the Kingdom’s oil companies investing in the South Sudan oil sector.
He revealed that the area in which technical surveys were carried out do not cover more than 10% of the country.
Regarding imminent conclusion of partnerships or agreements between South Sudan and Saudi Arabia in the oil sector, Abel explained that there is a firm desire on both sides to benefit from the Kingdom’s experiences, especially in light of the policy of openness pursued by the Kingdom under the leadership of the Custodian of the Two Holy Mosques King Salman and the Crown Prince Mohammed bin Salman.
“As managing director of NilePet in 2020, I sent a letter to Aramco's CEO urging them to enter into oil investment in South Sudan and to provide training for the national cadre in South Sudan... However, the spread of the coronavirus pandemic prevented this from moving forward,” said Abel.
Regarding Juba’s plan for operating oil fields in a manner that guarantees increased production, Abel explained that the general strategy is based on attracting foreign direct investment in order to bring new fields into operation in cooperation with new investors.
He noted that NilePet also attaches great importance to introducing modern technologies and improved or enhanced methods for extracting oil in cooperation with international companies in the field.