A two-day oil and power conference started in Juba on Wednesday seeking to boost investment opportunities in the energy industry.
The conference is organized by the Africa Oil and Power or AOP in collaboration with the South Sudan’s Ministry of Petroleum. Bakhita Radio reports.
Leading oil companies in South Sudan as well as energy experts from local and international enterprises will examine topics on investment, security, logistics, technology, and power development.
Guillaume Doane, CEO of Africa Oil and Power say the conference would enable South Sudan to present its energy potential to the world.
Vice President, James Wani Igga, says South Sudan has a huge potential in the energy sector as such the conference would open new investment opportunities.
Oil-rich South Sudan depends on oil revenue for 98 percent of its budget, but production reduced significantly due to civil war that erupted in December 2013.
The conflict forced most oilfields in the country’s oil-rich northern region to shut down, leading to a drop in production to less than 130,000 barrels per day
Petroleum Minister Ezekiel Lol Gatkuoth says 70 percent of South Sudan’s oil blocks remain unexplored.
He says the country has opened up investment and exploration opportunities in several blocks in the former Unity and Upper Nile states.