South Africa signs oil search deal with South Sudan
South Sudan's second vice-president James Wani Igga delivers a speech at the South Sudan Oil & Power 2017 conference in Juba, on October 11, 2017. South Sudan has signed an oil exploration deal with South Africa for Block B2. PHOTO | FILE | NATION MEDIA GROUP
The South African government on Monday signed an oil production agreement with South Sudan, signalling intent to pump money into Juba’s nascent petroleum industry that has almost stalled over conflict.
The deal known as the Exploration and Production Sharing Agreement (EPSA) will see Pretoria’s state-owned Strategic Fuel Fund (SFF) granted permission to explore oil in an area known as Block B2, which is in the wide oilfields of the Muglad basin that straddles both Sudan and South Sudan.
