South Sudan says oil production in Upper Nile making progress
September 19, 2024 (JUBA) – South Sudan has reported considerable progress made with joint oil operating companies to resume production of the Dar blend oil in northern Upper Nile State.
“Significant progress has been made on the resumption of oil production from the Dar Blend in Upper Nile, and we are optimistic for a breakthrough,” Finance minister Marial Dongrin Ater said.
South Sudan oil exports halted in February 2024 after inflicting damage to the pipeline. The rupture compelled the Sudanese government to declare a force majeure in March after operators of the Jabalayn-Port Sudan pipeline discovered gelling between Pump Stations 4 and 5, located in a military operation zone. The incident was noted by Sudanese authorities when an impeded flow was detected in mid-February. This incident came at a time when concerns have arisen over the safety of Sudan’s main refinery, carrying 100,000 bpd from the Al-Jaili facility near Khartoum.
Acknowledging the country’s economic woes, Ater said government is engaging bilateral and multilateral partners to acquire concessional loans and grants.
Meanwhile South Sudan also unveiled a raft of economic strategies to secure funds to spur economic growth.
The Finance minister described the strategies as platforms for updating the public through the media about government’s plans and efforts to revamp the economy and curb inflation, pay salaries and operating costs of the government.
“I am pleased to update the public on a series of interventions designed to bolster our country’s economic performance. These measures are aimed at improving tax revenue, mobilization, enhancing crude oil export, securing funding, digitalization and financial inclusion, and fostering food security”, he remarked.
Ater said one of the strategies to secure funding was to bolster efforts aimed at enhancing revenue mobilization by the Ministry of Finance and planning through collaborative working relations with South Sudan revenue to ensure effective and efficient collection processes and tax compliance.
“The significant progress has been made on the resumption of oil production from Dar Blend in Upper Nile and we are optimistic for a breakthrough. We are actively engaging with bilateral and multilateral partners for concessional loans and grants to address pressing economic challenges. These funds have already been earmarked to support key sectors and stimulate economic growth,” he explained.
The minister cited the adoption of mobile money electronic banking solutions to reduce reliance on cash transactions.
He, however, underscored the resolve of the Finance ministry institution to be paying salaries and operating cost on time.
“The Ministry of Finance will be paying salaries and operating costs for ministries, departments, and agencies through bank accounts. This initiative will enhance financial efficiency, reduce risks associated with excessive cash circulation, and improve transparency. The banking sector is expected to simplify procedures for electronic transactions and telecommunication operators and intensify public awareness campaigns on mobile banking services”, he stressed.
To mitigate food shortages and ensure affordable prices, Ater said the Ministry of Trade and Industry is leading measures to ensure a steady supply of essential commodities and other vital products.
(ST)