21 March 2017

South Sudan: Juba, Equatorial Guinea Seal Oil, Gas Deal

South Sudan and Equatorial Guinea have unveiled an oil and gas partnership.

The deal was announced in Juba on March 20, following a visit by the Equatorial Guinea oil minister, Gabriel Mbaga Obiang Lima.

South Sudan Oil minister Ezekiel Gatkuoth Lol said in a statement that the deal will pave the way for the two countries to share information.

"Partnerships are what fuels the oil industry. South Sudan is proud to share its experiences with Equatorial Guinea, and to learn from them," said Mr Lol. "The petroleum industry is crucial to our nation's development. This agreement signals our dedication to investing in the sector as a driver for South Sudan's growth."

Mr Lima praised South Sudan for the new deal, saying sharing of expertise between the two countries was vital.

"The sharing of resources and knowledge between African oil and gas countries is critical. Going forward, Equatorial Guinea will work closely with South Sudan for the benefit of our people and our national economies," he said. "The lines of communication are open and we look forward to a deep and lasting collaboration."

South Sudan hopes to more than double its oil output to 290,000 barrels per day in the fiscal 2017/2018.

The young nation has relied on oil revenue to fund its projects since its independence in 2011. But the economy has been hit hard since the outbreak of war in 2013.

South Sudan

UN Imposes Arms Embargo on Juba

The United Nations Security Council has adopted a U.S.-drafted resolution to impose an arms embargo on South Sudan until… Read more »

See What Everyone is Watching

Copyright © 2017 The East African. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.