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The African Energy Chamber (AEC) said it was almost as much as the Oyo
Discovery announced earlier this month in the Congo.
The exploration well was drilled at a
total depth of 1,320 m near the Adar oilfield in Block 3, operated by the Dar Petroleum Operating Company (DOPC),
which includes CNPC, Petronas, Nilepet, Sinopec and Tri-Ocean Energy.
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“This is a remarkable
achievement for the country,” declared
Nj Ayuk, executive chairman at the
Chamber and CEO of the Centurion Law
Group. “Since independence, South Sudan has worked
tirelessly to bring back damaged fields to production, and especially encourage
exploration. Their efforts to maintain peace and stability and a safe
environment for investors have paid off. We have always believed that stability
goes hand in hand with economic prosperity. Such a large discovery confirms the
huge potential of South Sudan in oil and gas just before the country launches a
new licensing round in October.”
Earlier this year, South Sudan signed
an Exploration and Production Sharing Agreement (EPSA) with the South African Strategic Fuel Fund for
the highly prospective B2 block. The move was part of South Sudan’s strategy to
diversify its investor base and encourage further exploration.
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AEC stated that while the country sits
on more than 3.5bn of proven oil reserves, the third-largest in sub-Saharan
Africa, 70 per cent of its territory remains under-explored. South Sudan will
launch a new oil licensing round to boost exploration at the upcoming Africa
Oil & Power conference in Cape Town on 9 October. (Oil Review Africa)
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