Chinese language agency Shengli Oilfield Keer Engineering (Sokec) has signed a memorandum of understanding with South Sudan’s state-owned Nile Petroleum Company (Nilepet) to finance and construct an oil refinery and storage facility.
Sokec is privately owned and primarily based in Hong Kong, mentioned a report by Chinese language state-run information company Xinhua.
Sokec president Wu Music signed the settlement in precept with Nilepet managing director Muhammad Lino Benjamin.
Wu mentioned Sokec would instantly start its deliberate funding in Africa’s youngest nation.
“We’ll begin our preparation work as quickly as doable on the refinery and storage amenities,” he mentioned.
The signing happened after executives from the Chinese language firm had visited oil fields in Tharjiath, Unity State, to examine the amenities and assess the present state of the refinery operations.
No data was given concerning the funding worth of the refinery, or its capability. Nevertheless, Kuol Deng Maleith, Nilepet’s director common of Midstream operations, mentioned the undertaking can be a step towards modernising and increasing South Sudan’s oil business.
South Sudan seceded from The Republic of the Sudan in 2011 after a 22-year-long civil warfare. It has an estimated 3.5 billion barrels of oil, the third-largest in sub-Saharan Africa.
The nation produced round 149,000 barrels of oil per day in 2023, however has but to reach at an appropriate answer for refining and transporting this oil to world markets.
Various pipeline schemes have been mooted, and plenty of formidable infrastructure schemes have been proposed, of which probably the most eye-catching is “Lapsset”. This stands for the “Lamu–South Sudan–Ethiopia Transport Hall Venture”, which is anticipated to interrupt floor subsequent yr (see additional studying).
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