South Africa will invest about US$99.5 million in the South Sudan oil industry. Both countries signed an outline agreement yesterday, Friday and will be subject to detailed negotiations. The deal was brokered by two state-owned company, South Africa’s Central Energy Fund and South Sudan’s Nile Petroleum Corporation.
Oil Minister of South Sudan, Ezekiel Gatkuoth has reiterated that the investment will be geared towards the building of a refinery and pipelines, oil exploration and the training of the oil workforce – engineers and ad-hoc inclusive. When the refinery is concluded, it will have a production capacity of 60,000 barrels daily.
South Sudan currently does not have its own refinery. It exports crude oil to Sudan and imports refined petroleum products.
