South Sudan has asked China National Petroleum Corp. to increase oil production at two of the country's largest fields and gave a guarantee that the company could extend a production agreement expiring in four years, Bloomberg reported.
CNPC has the largest stake in the consortium Dar Petroleum Oil Operating Co., which operates on blocks 3 and 7 of the Paloch oil field in Upper Nile. Due to technical and operational problems in these two blocks, total production is 104,000 barrels per day with a peak of 260,000 barrels.
Under the current terms, the most productive of the country's oil blocks should be taken over by the state-owned South Sudanese Nile Petroleum Corp. when the contracts expire. However, due to the crisis that hit South Sudan, the authorities decided to change the terms.
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CNPC has the largest stake in the consortium Dar Petroleum Oil Operating Co., which operates on blocks 3 and 7 of the Paloch oil field in Upper Nile. Due to technical and operational problems in these two blocks, total production is 104,000 barrels per day with a peak of 260,000 barrels.
Under the current terms, the most productive of the country's oil blocks should be taken over by the state-owned South Sudanese Nile Petroleum Corp. when the contracts expire. However, due to the crisis that hit South Sudan, the authorities decided to change the terms.
Subscription