Bloomberg News

Sudan Awards Nine Oil Exploration Contracts, SUNA Reports

July 04, 2012

Sudan awarded nine contracts with 17 international companies that will invest $500 million to explore for oil in the African nation, state-run SUNA news agency reported.

Sudanese Oil Minister Awad Ahmed al-Jaz signed the agreements with companies from Brazil, Australia, Canada, Hong Kong, France and Nigeria. The deal covers oil eight blocks taking up more than 40% of the nation’s land area, the Khartoum- based agency said late yesterday, citing al-Jaz.

The blocks are forecast to start production in six months to five years, SUNA said.

The Sudanese economy has been suffering since South Sudan assumed control of three-quarters of the former unified state’s oil production of almost 490,000 barrels a day when it became independent a year ago.

To contact the reporter on this story: Salma El Wardany in Cairo at selwardany@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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