Unlocking capital flow and cooperation between African countries and global partners is crucial for the continent to maximize the development of its estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of gas reserves for energy security, energy poverty eradication, industrialization and socioeconomic growth. While countries to the likes of South Sudan have long been oil producers, untapped resources across these markets offer unique opportunities for both financiers and projects developers looking towards the continent’s potential.
As these opportunities unfold, the African Energy Chamber (AEC), serving as the voice of the African energy sector has announced that Hon. Puot Kang Chol, South Sudan’s Minister of Petroleum, will once again participate at this year’s edition of the African Energy Week (AEW) conference and exhibition – Africa’s premier event for the energy sector, scheduled for 16 – 20 October in Cape Town. During the conference, Hon. Minister Chol will not only provide insight into the various achievements seen across the sector since last year’s AEW edition but will showcase partnership and investment opportunities that remain in the largely untapped market.
Representing East Africa’s only major oil producer as well as the third largest in sub-Saharan Africa, South Africa’s oil and gas resources remain of crucial importance to both the regional and broader continental market. Boasting 3.5 billion barrels of crude oil reserves, investor-friendly regulatory terms, extensive industry expertise as well as a well-established reputation as a reliable producer and supplier, South Sudan serves as one of Africa’s most competitive and highly attractive energy investment destinations, and AEW 2023 serves as the ideal platform for the east African country to sign a new wave of investment deals with global investors.
Despite its status as a producing market, South Sudan’s government has placed new focus on expanding exploration and production with the aim of mitigating natural declines in legacy fields, bolstering energy security efforts while attracting a new slate of investment into the promising market. A licensing round is currently underway that aims to incentivize new players and foreign capital, a number of deals have been signed kickstarting exploration efforts and the government continues to promote opportunities for E&P, power sector and broader infrastructure players. More recently, South Africa’s Strategic Fuel Fund and South Sudanese national oil company Nilepet inked an aerial contract for Block B while South Sudanese oilfield services company Nile Drilling & Services and petroleum drilling manufacturer Tianjin DFXK Petroleum signed an agreement for the acquisition of two additional drilling rigs for the development of South Sudan’s oilfields. With 70% of the country’s acreage untapped, South Sudan offers lucrative investment prospects, all of which will be showcased through Hon. Minister Chol’s AEW 2023 participation.
However, the country’s investment opportunities transcend the upstream sector, with national efforts to bolster infrastructure development opening up a new frontier for investors and service companies. South Sudan hopes to establish itself as a vehicle for regional energy security through the supply of oil and gas to the broader East African market, and Hon. Chol will provide crucial insight into the government’s development agenda and where private players are expected to play a role. AEW 2023’s investment-dedicated forums and exclusive networking sessions will see Hon. Chol promote such opportunities.
“The Chamber is proud to once again host Hon. Puot Kang Chol at AEW. Since the event’s inception, the South Sudanese Minister has been dedicated to the event, participating in a number of critical sessions, presentations and discussions and making a strong case for South Suda-directed exploration, production and infrastructure development. At AEW 2023, the minister will expand on last year’s conversation while highlighting new opportunities within South Sudan’s oil and gas industry. The Chamber commends Hon. Puot Kang Chol’s commitment to bolstering the flow of investment into East Africa,” stated NJ Ayuk, the Executive Chairman of the AEC.
At AEW 2023, Hon. Puot Kang Chol will participate in high-level panel discussions and exclusive networking sessions, highlighting investment opportunities present across South Sudan’s entire energy value chain.
AEW 2023 is the AEC’s annual conference, exhibition, and networking event. AEW 2023 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.
