oil and gas

Machar urges foreign investors to exploit S. Sudan’s oil sector

September 15, 2022

(JUBA) – South Sudan’s First Vice President, Riek Machar has urged foreign investors to venture into the country’s oil sector, saying the East African nation has a vision to become the economic hub of the region.

He was officially opening the 5th Oil and Power conference held in Juba on Tuesday.

“We have a vision to become the economic hub of this part of the world, particularly east and central Africa. This is a land of abundance. We have what it takes to make this country an economic hub. We call upon you to come and invest,” said Machar.

He added, “We are more oriented to increase production so that from the revenue, we can build our infrastructural base and provide the necessary delivering services such as health, education and clean water”.

The Oil and Power conference, organised by the Ministry of Petroleum, Ministry of Energy and Dams, seeks to showcase South Sudan’s economic potentials to the world.

As the only major oil producing nation in East Africa, South Sudan is of strategic importance to the entire region and is well positioned to trigger new investments and long-term developments across the energy value chain.

In his keynote address, Petroleum minister, Puot Kang Chol said the country had started an environmental audit to help review, improve and strengthen environmental laws.

“We are looking for investors to come to South Sudan and to connect with our national and local companies. The Ministry of Petroleum, in collaboration with the Ministry of Environment, has launched a competitive tender for the commencement of environmental audits across the industry. This will help the country review, improve and strengthen environmental laws,” said Chol.

sudantribune



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