- In Vienna, Austria, South Sudan invites investors to explore investment opportunities in exploration, production, development, and midstream and downstream projects.
- South Sudan oil and gas market will grow at 5 per cent between 2019 and 2028, projections show.
- The show in Vienna is in readiness for South Sudan Oil & Power 2024 expo set for June 2024.
A delegation of top government officials from Juba is in Vienna Austria, as South Sudan woos oil and gas industry investors to boost Africa’s youngest nation’s international trade.
The Ministry of Petroleum in South Sudan, in collaboration with Energy Capital & Power, has officially launched the South Sudan Oil & Power (SSOP) 2024 show. As an OPEC+ member, South Sudan is strategically positioning itself as a key player in the global petroleum industry and is attracting renewed interest in onshore oil and gas investments. SSOP 2024 will take place in Juba from 25-28 June 2024.
Fostering growth and energy security
During the OPEC 8th International Seminar in Vienna, Minister Puot Kang Chol highlighted the significance of South Sudan’s resources in driving economic growth and ensuring energy security. He emphasized the importance of collaboration with partner nations and organizations to balance priorities and promote sustainable development.
Minister Kang Chol invited delegates to explore investment opportunities in South Sudan’s exploration, production, development, and midstream and downstream projects.
The South Sudan Oil & Power Summit serves as a premier gathering for all stakeholders in East Africa’s primary oil-producing nation. With the upcoming SSOP 2024 being the seventh edition, this influential platform plays a pivotal role in facilitating dealmaking and decision-making in South Sudan during a critical phase of the country’s growth.
“South Sudan’s resources present tremendous opportunities as we establish new partnerships and strengthen existing ones. We must develop these resources and forge sustainable partnerships that align with the long-term interests of South Sudan. The discussions at South Sudan Oil & Power 2024 will shape our future as a petroleum producer and foster the creation of enduring partnerships.” stated Mr, Minister Kang Chol
The event, scheduled for 25-28 June 2024 in Juba, will bring together participants from the private sector, investors, regional leaders, high-profile national delegations, national oil companies (including South Sudan’s NOC, Nilepet), and various government ministries.
The summit features a new format, including a two-day high-level conference, two additional days of workshops, presentations, and site visits, as well as a gala dinner and networking functions. The Radisson Blu hotel and the Pyramid Continental Hotel will host the event. Energy Capital & Power eagerly anticipates the arrival of energy investors and delegations from around the world in June 2024 to Juba, South Sudan.
Overcoming challenges and driving growth
The country’s oil and gas market is projected to grow at over 5 per cent between 2019 and 2028. The outbreak of COVID-19 had a negative impact on the market due to government-imposed lockdowns, which influenced operations.
Additionally, the spread of the virus disrupted oil production in 2020. The country’s output dipped by 20,000 barrels per day (b/d) to 170,000 b/d. Also, increased oil production and investments in the sector will significantly boost the markets. On challenges, civil war instability and oil price volatility might restrain the market.
The downstream sector will experience significant expansion in the forecast period. The country’s investment in oil and gas infrastructure, including the establishment of a domestic refinery, will power this growth. Since Juba separated from Khartoum, where most refineries were located, building own refinery is a major government initiative.
Signs of ending the civil war bring hope for higher growth and serve as an opportunity for market players. The increased production of oil will be a huge boost to South Sudan as it heavily relies on energy exports.
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