South Sudan: Nile Petroleum, Glencore form joint venture
July 13, 2011 (JUBA) – South Sudan’s Nile Petroleum Corporation (Nilepet) has, in a bid to boost the oil industry, entered into joint venture with Glencore International; a Swiss-based public company involved in producing, processing, refining and transporting energy products.
The move, according to Mangok Kali Mangok, Nilepet’s managing director seeks to ensure that crude oil entitlements from the company, and the Republic of South Sudan in general, find international markets.
“The joint venture will help the Republic of South Sudan develop its national oil company through skills transfer and training and will be responsible for marketing the crude oil from July 09 onwards,” Mangok said in a statement.
Partnership with Glencore, he added, will enable the former to invest in oil infrastructure in newly independent South Sudan as well as raise international financing that will benefit the new nation.
The development comes nearly five months after South Sudan’s Energy and Mining ministry and Petroliam Nasional Berhad (PETRONAS), a Malaysian-owned oil and gas company signed a two-year memorandum of understanding (MoU) aimed at boosting mutual cooperation between the two parties.
The MoU, signed in Juba, South Sudan’s capital, outlined the overall principles of cooperation in the oil and gas sector between the government and the Malaysian oil giants, creating an avenue for exploiting existing business opportunities.
In addition, the agreement further creates a platform for the two parties to set up frameworks for sharing experience and expertise in the management of petroleum resources through capability building and other training programs.
In January 2008, Petronas, got permission from South Sudan’s government to begin oil exploration in block 5B, after agreeing to let Moldova’s Ascom Group keep part of the concession, an official said.
Following the signing of the Comprehensive Peace Agreement in 2005 peace deal, the Sudanese government in Khartoum mediated with oil firms with overlapping claims.
In July last year it was agreed that Petronas could keep its share in Block 5B provided it allowed Ascom, already working in the area, a share in the venture.
Block 5B, which lies in Unity and Jonglei states, covers more than 20,000 square km (7,723 sq miles), is operated by the consortium WNPOC (White Nile Petroleum Operating Company) led by Petronas and including India’s ONGC Videsh, Sudan’s state-owned Sudapet and Nilepet and Sweden’s Lundin Petroleum.
(ST)
Wanibuluk Ciciliba
South Sudan: Nile Petroleum, Glencore form joint venture
But if I may ask to know, how many petrolleum companies are going to be contracted and which oil are they drilling?
I ask so because the Nation needs some reliable companies that can creat employment opportunities to the youth and give the Country the first chance for development. By the way, where are these companies going to export their product through?
One thing to underline here with is that instead of agreeing with North to charge South some petty per barrel of the oil export, it is better to incure the cost of construction of our own pipelines through Kisangani- Congo to Antilantic or Uganda and to Indian ocean once and for all than keeping the vomits still around our mouth..ohs….
Companies should be given an internation level of taxation not of the South alone. Maintain zero tolerance to CORRUPTION and be like Kigali.
Dinka Dominated SPLA/M
South Sudan: Nile Petroleum, Glencore form joint venture
Good one james .
Congratulations to South Sudan for UN Membership But Shame to Ezekiel Lol: I would like to take this occasion to congratulate the Republic of South Sudan for being admitted today on 14th July 2011 to the membership of the United Nations. This day completes my happiness of the 9th July as I see the beautiful flag of my beloved Motherland hoisted high amongst other flags of nations in the UN compound at New York. Congratulations to President Salva Kiir Mayardit for being recognized worldwide today as the First President of the Republic of South Sudan. Congratulations to the Vice-President Dr. Riek Machar too for making history at the UN building in New York as the first South Sudanese highest authority to address the U.N General Assembly. Nonetheless, the speech read by VP Dr. Riek was poorly drafted. Shame to the Ethiopian Nuer called Ezekiel Lol Gatkuoth who represent temporary and informally the Republic of South Sudan at UN for such an amateurish work full of must, must, must and without any touch of diplomatic language.
Shame to Mr. Ezekiel too to dance in a Nuer style in front of the holistic South Sudanese flag as if it is a tribal celebration in New York. This shows how incompetent he is!! It is high time for real Southerners to represent their country. Let Mr. Ezekiel go back to Gumbela in Ethiopia or remain in U.S where he is naturalized. His term is just over and it must be ended in order to avoid South Sudanese being perceived as incompetent in future, especially at dignified gathering like in the UN Headquarters
padiit gaga
South Sudan: Nile Petroleum, Glencore form joint venture
Dinka dominat SPLA
sham to you don’t say that Ezikel Lol could go to Gambella how is citizen of JIKow. you are out of mind you claim that southern Sudan citizens must go to Ethiopia, this person is from Naath tribe they should not sell their city like Dinka who were Sold Abyie to Arab due to their Cowardness,and food lover. As many were convernted to Slime ,now southsudan will has muslims due to NGOk. May be they will stay will Arab too if Dr.Riek will not fight with their right.
sham to you do not let southernes go to Gambell ROSS like her citizens go to niegbor country like you. I think you are from Dinka who sold ABYIE to Arab and converted to Slim while other Dinka clans are not converted to slim.