Machar urges foreign investors to exploit S. Sudan’s oil sector
September 13, 2022 (JUBA) – South Sudan’s First Vice President, Riek Machar has urged foreign investors to venture into the country’s oil sector, saying the East African nation has a vision to become the economic hub of the region.
He was officially opening the 5th Oil and Power conference held in Juba on Tuesday.
“We have a vision to become the economic hub of this part of the world, particularly east and central Africa. This is a land of abundance. We have what it takes to make this country an economic hub. We call upon you to come and invest,” said Machar.
He added, “We are more oriented to increase production so that from the revenue, we can build our infrastructural base and provide the necessary delivering services such as health, education and clean water”.
The Oil and Power conference, organised by the Ministry of Petroleum, Ministry of Energy and Dams, seeks to showcase South Sudan’s economic potentials to the world.
As the only major oil producing nation in East Africa, South Sudan is of strategic importance to the entire region and is well positioned to trigger new investments and long-term developments across the energy value chain.
In his keynote address, Petroleum minister, Puot Kang Chol said the country had started an environmental audit to help review, improve and strengthen environmental laws.
“We are looking for investors to come to South Sudan and to connect with our national and local companies. The Ministry of Petroleum, in collaboration with the Ministry of Environment, has launched a competitive tender for the commencement of environmental audits across the industry. This will help the country review, improve and strengthen environmental laws,” said Chol.
He added, “On transparency and accountability, the Ministry continues to report on daily production and the marketing of petroleum products. We are also currently being audited as we are also under the law and must be audited by those who are mandated to do so”.
South Sudan’s Minister for Mining, Martin Gama Abucha said there is need to transition from fossil fuel to green and clean energy in order to improve peoples’ livelihoods.
“It is definitely the time that we need investment. Energy is what we want today. The transition from fossil fuel to green and clean energy is a demand of the world today. Without this transition, we will not be able to improve our livelihoods. But most importantly, a just transition is what we need today. South Sudan has the potential to export not just to Africa but the world. Particularly the mining sector, we have many minerals. We will be the engine for the transition,” he explained.
For his part, Djibouti’s Minister for Energy and Natural Resources, Yonis Ali Guedi said South Sudan presents an opportunity to become the economic hub of the region.
“Djibouti is not the biggest country in terms of producing oil or gas. Therefore, the gateway of east Africa will be here in Juba. They will be able to produce and export oil and gas to us and the world,” he stressed.
In 2017, when Energy Capital & Power (then Africa Oil & Power) produced its first conference in the South Sudan capital, Juba, the country was re-emerging from a fresh bout of conflict in 2016, two out of the three Joint Operating Companies (JOCs) were not producing oil and Juba did not have a functioning power grid.
(ST)