South Sudan’s Minister of Petroleum Confirms Participation at African Energy Week 2022
Hon. Puot Kang Chol, Minister of Petroleum for the Republic of South Sudan, will once again speak and participate at African Energy Week 2022
African Energy Week (AEW), Africa’s leading investment platform for the oil and gas sector, is proud to announce that Hon. Puot Kang Chol, Minister of Petroleum for the Republic of South Sudan, will be attending and participating at AEW 2022, which will be taking place from 18 – 21 October 2022 in Cape Town. Representing the only oil producing nation in east Africa, the Minister brings a wealth of experience which both emerging and leading oil and gas producers across the continent can replicate to boost production and to utilize their hydrocarbons resources in making energy poverty history in Africa by 2030.Hon. Puot Kang Chol is currently leading South Sudan’s efforts to boost oil production through increased participation of foreign investors and increased exploration activities. In June 2021, Hon. Puot Kang Chol led the South Sudanese Ministry of Petroleum in launching the country’s first oil licensing round in which exploration licences were awarded for Blocks A2, A5, B1, B4 and D2 as part of efforts by the government to explore the almost 90% of oil and gas reserves that remain untapped. During the first round of three, an initial five blocks were placed on offer in the Muglad Basin with the potential to add up to 100,000 barrels of oil per day (bpd). The licensing round forms part of an effort by Hon. Puot Kang Chol to boost the country’s oil output from between 180,000 and 200,000 bpd in late 2020 and early 2021, to 300,000 bpd by 2023 and then to between 350,000 and 400,000 bpd by 2025. Recent collaborations between South Sudan’s Ministry of Petroleum and top international and regional oil companies such as the China National Petroleum Corporation, the Nigerian National Petroleum Corporation, Petronas, the Nile Petroleum Corporation and the Oil and Natural Gas Corporation have led to significant investments being made in blocks such as blocks 3, 7, 1, 2, 4 and 5A. As a result, South Sudan has managed to expand and stabilize its production capacity in recent years. However, a lack of oil processing and transportation infrastructure continue to disrupt the growth of South Sudan’s oil sector as well as the full monetization of oil resources for economic development. With revenue from the oil sector accounting for almost 80% of the country’s gross domestic profit, according to Sustainable Energy For All, improving the build-up of infrastructure such as transportation pipelines and refineries could help boost South Sudan’s economy. With this in plan, the Ministry or Petroleum seeks to attract more foreign investments to boost its infrastructure development. At AEW 2022, Hon. Puot Kang Chol, Minister of Petroleum will present opportunities for investors and for oil and gas companies within South Sudan’s market and how those opportunities can be leveraged to accelerate full-scale energy sector development. “Despite the vast hydrocarbon reserves which South Sudan has, the country is one of Africa’s most underdeveloped economies. Hon. Puot Kang Chol wants to change this by increasing foreign investments within the country’s energy market,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding that, “By confirming his participation and attendance at AEW 2022, the minister seeks to strengthen the country’s capacity to manage and monetize its hydrocarbon resources. AEW 2022 provides a perfect platform where deals with both international and continental investors, as well as energy market players, will be discussed and signed.” By replicating some of the best practices and regulatory frameworks which leading hydrocarbon producing countries such as Nigeria, Angola, Niger and members of the African Petroleum Producers Organization will be presenting at AEW 2022, South Sudan is committed to ending energy poverty domestically and across the continent. Hon. Puot Kang Chol will lead panel discussions and participate in ministerial forums focused on how African hydrocarbon producing countries such as South Sudan can attract funding to boost the oil and gas market and how hydrocarbons can be utilized to address energy access and ensure energy independence across the continent. After a successful participation at AEW 2021, Hon. Puot Kang Chol will once again engage and network with other African energy ministers and market players at this year’s edition to drive discussions around the growth of Africa’s oil and gas market and the use of hydrocarbons to shape the energy transition across the continent. AEW 2022 represents the ideal platform for countries like South Sudan to meet with investors and sign deals that will drive both the country’s and Africa’s industry growth. AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.
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*Source African Energy Chamber