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The Ministry of Petroleum (MoP) of South Sudan announced the launch of its first oil licensing round, according to a statement.
Sudan’s MoP said that it had found potential hydrocarbons in new blocks, so it collected the needed data to offer them to the interested investors, operators and counterparties.
It elaborated that the available blocks range between 4,000 and 25,000km square, with most comprising between 15,000 and 20,000 km square.
The statement highlighted that 90% of South Sudan’s Oil and gas reserves have not explored yet according to new analysis conducted by the ministry, which represents unprecedented opportunities to the investors.
The bid round targets to attract a diverse group of foreign investors sides Chinese and Malaysian oil and gas majors who operates there. According to the statement, the ministry will set criteria to facilitate and evaluate interested parties bidding for the available blocks.