Undersecretary of the Sudanese Ministry of Energy and Mining Hamed Suleiman Hamed said that his country's oil reserves are estimated at 6 billion barrels, indicating that his ministry has prepared 25 square kilometers for immediate investment by both local and foreign companies
KHARTOUM (Pakistan Point News / Sputnik - 02nd December, 2020) Undersecretary of the Sudanese Ministry of Energy and Mining Hamed Suleiman Hamed said that his country's oil reserves are estimated at 6 billion barrels, indicating that his ministry has prepared 25 square kilometers for immediate investment by both local and foreign companies.
"Sudan has oil reserves that have been estimated at approximately 6 billion barrels, whereas 1 billion 700 thousand barrels have been used ... we have prepared 25 square kilometers for oil production, including two locations in the [Red Sea] state, in addition to other locations in the country's west and south," Hamed, who heads the ministry's oil department said in a statement to Sputnik.
The ministry's oil chief also revealed that "the country currently produces 60,000 barrels per day, and is expected to reach 80,000 barrels per day in 2021."
Hamed extended his invitation to highly experienced oil and gas production companies from all countries, stating that "Sudan is very rich in natural resources, and we have a very large reserve of gas that have not been tapped until this day."
"A French company is currently conducting studies and research to uncover the exact quantity of gas available in the country, figures that will be used by us ... The main areas where gas has been discovered are located in the states of West Kordofan, East Darfur, the Red Sea, and the Dinder area," he explained.
Hamed stated that all companies that are currently working in Sudan on oil production are local, with the exception of the Chinese CNPC, which is investing in only 6 square kilometers. The official also expected that US, European and Russian companies will come to invest in oil and gas once Sudan is removed from the US terrorist list at the end of this month.
Sudan has lost 73 percent of its oil as a result of the secession by South Sudan in 2011, which triggered economic crisis in the following years, accentuating the nation's dependence on revenues from oil exports.