Crisis-hit Sudan is now open for business, and it’s selling oil
Apart from exploration licences, Sudan also has under-developed blocks up for licensing, where oil is proven to exist
Sudan is calling on investors to give it a second chance as the crisis-struck nation prepares to launch a bidding round for oil exploration in 2019. In the interim, it is open for direct negotiations. Sudan has experienced much hardship, first from a decade-long imposition of US sanctions then the secession of South Sudan in 2011, which took the bulk of the oil output with it. This was compounded by a severe drop in oil prices and caused the government to default on contractual obligations, which severely hurt investor sentiment. “Sudan has been suffering for quite some time, we feel confident that now is really the time for a second boom in this country,” Sudanese minister of petroleum, gas and minerals Azhari Abdalla told press at the Africa Oil Week conference in Cape Town. “We are open and willing to receive whoever wants to come and invest in our country with an open mind and open arms — no restrictions whatsoever.” Although the sanctions were partially lifted by the US in Octo...
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