Sudan Calls on Turkish Companies to Invest in Petroleum Industry

Posted on : Monday , 9th November 2015

Awad, who met his Turkish counterpart Ali Riza Alaboyun on the sidelines of the 8th International Energy Congress in Ankara on Friday, pointed to the multiple investment opportunities in Sudan’s oil industry.

He urged Turkey to enter into petroleum exploration and extraction in Sudan, pointing that Sudan has a comparative advantage in the area of renewable energy, particularly solar energy besides the oil and gas industry.

For his part, the Turkish minister praised Sudan’s experience in the localization of the oil industry.

Two Turkish companies, Delta and GYP, have expressed during the meeting desire to enter into Sudan’s oil services particularly in the domains of drilling and production tests.

Meanwhile, Awad has discussed with several of his counterparts on the sidelines of the conference the joint cooperation in various oil domains such as training and the transfer of oil technology, services and expertise.

China is the largest foreign investor in Sudan’s oil industry.

Sudan lost 75% of its oil reserves after the southern part of the country became an independent nation in July 2011, denying the north billions of dollars in revenues. Oil revenue constituted more than half of the Sudan’s revenue and 90% of its exports.

Sudan currently produces 133,000 barrels of oil per day (bpd). The country’s production is stationed mainly in the Heglig area and its surroundings, as well as western Kordofan.

Following South Sudan’s secession, several foreign companies including from Canada, Saudi Arabia, Russia and Nigeria started exploration in new oil fields.