South Sudan : Russian giant ink deal for oil exploration and cooperation

South Sudan's oil output is expected to reach 210,000 bpd by the end of 2018. Photo : Reuters

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NEWSROOM (ADV) – Russia’s Zarubezhneft has signed a memorandum of understanding with South Sudan to explore four oil blocks, South Sudan’s petroleum minister said on Tuesday.

The company was awaiting more information on the blocks from the Petroleum Ministry before starting exploration.

Other foreign firms active in South Sudan’s oil industry include China National Petroleum Corporation (CNPC), Malaysia’s Petronas and India’s Oil and Natural Gas Corporation (ONGC Videsh).

The minister said the country’s oil production had risen to 135,000 barrels per day (bpd) from 130,000 bpd in August.

He said South Sudan wanted to push production back up to 350,000 bpd, the level achieved in 2011 before the country slid into civil conflict.

A peace deal, between President Salva Kiir and rebels led by his former deputy Riek Machar, was signed in September.

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