Oil & Gas
SOUTH Sudan Petroleum Minister, Awow Chuang, on Wednesday said that the country had boosted its oil production by 6,000 barrels, bringing the oil output to over 180,000 barrels per day.
Chuang told state-owned radio South Sudan Broadcasting Corporation (SSBC) on Wednesday in Juba.
The minister said the increase followed resumption of production at Block 1&2 in Manga Oilfield, which was closed six years ago due to insecurity in the northern parts of the country.
He said the reopening of the Manga oilfields would boost the government’s ambitious efforts to reach the 200,000 barrels mark by the end of 2019.
“This is significant in our production and if we are to translate this figure into money, it would be a significant improvement in our revenue,” Chuang said.
“I am sure up to the end of this year, we shall be able to increase the production to our previous level to develop other sectors,” he added.
According to the World Bank, South Sudan is the most oil-dependent nation in the world, with oil accounting for around 60 per cent of its Gross Domestic Product (GDP).
But after the young nation descended into civil war in late 2013, oil production declined from 350,000 in 2011 to less than 130,000 barrels per day in 2014 amid soaring inflation.
Following the signing of a new peace deal in September 2018, conflict reduced and previously closed oilfields have reopened.
The landlocked country was hoping to raise daily output to over 200,000 barrels per day by the end of 2019. (Xinhua/NAN)
– Aug. 7, 2019 @ 12:17 GMT |
Tags: 000 barrels South Sudan raises oil output by 6
