{"id":12742,"date":"2022-10-17T07:31:26","date_gmt":"2022-10-17T07:31:26","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=12742"},"modified":"2022-10-17T07:31:26","modified_gmt":"2022-10-17T07:31:26","slug":"sudan-wildcat-petroleum-signs-mou-with-oil-ministry-to-increase-production-by-100000bopd","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/sudan-wildcat-petroleum-signs-mou-with-oil-ministry-to-increase-production-by-100000bopd\/","title":{"rendered":"SUDAN: Wildcat Petroleum Signs MoU with Oil Ministry to Increase Production by 100,000bopd"},"content":{"rendered":"<p class=\"a\"><span class=\"au\">Wildcat Petroleum has signed an MOU to work in collaboration with the Sudanese Oil Ministry to advance the development and commercial exploitation of hydrocarbon assets in Sudan.<\/span><\/p>\n<p class=\"a\"><span class=\"au\">The MOU is for an initial period to 31 December 2022 and can be extended upon both parties approval. The ultimate aim is to increase overall oil production by 100,000 barrels per day by the development of Blocks 1, 3, 4 &amp; 5 (as shown below). All four Blocks are currently producing and together contain over 1 billion barrels of oil (reserves &amp; resources). They are already connected to petroleum transport infrastructure and other facilities and there is spare capacity to handle and transport significantly increased oil production from these blocks.<\/span><\/p>\n<p class=\"ba\"><span class=\"au\">Both the Sudanese Petroleum Corporation and Wildcat recognise that to achieve the objectives in the MOU will require significant investment in Sudan. Wildcat&#8217;s management and strategic advisers are committed to providing and implementing innovative solutions, knowledge and technology transfer and introductions to sources of finance that will likely be required. Wildcat has for some time been in preliminary talks with potential funding partners which include hedge funds, a multi-national oil company (UK listed), oil funds and ultra high-net-worth individuals. These sources of capital are capable of providing the scale of investment funding required and in certain cases would also be able to provide technical resources. The Company will update the market in due course as and when any specific funding arrangements are reached with one or more party.<\/span><\/p>\n<p class=\"ba\"><span class=\"au\">Under this type of funding arrangement Wildcat does not itself expect to fund significant capital expenditure.<\/span><\/p>\n<p class=\"ba\"><span class=\"au\">Working in partnership with and supported by state resources, with access to multiple oil fields and using different sources of third-party funding it is Wildcat&#8217;s intention to have a number of oil projects running simultaneously across each of the four Blocks next year.<\/span><span class=\"au\">\u00a0<\/span><\/p>\n<p class=\"bb\"><span class=\"au\">Mandhir Singh, Wildcat Petroleum Chairman, commented<\/span>\u00a0<span class=\"au\">:<\/span><\/p>\n<p class=\"bb\"><span class=\"au\">&#8220;The company has consistently stated its ambition to be a producing oil company, profitable, dividend paying, owning reserves\/resources and be debt free. This deal is a major step forward to the Company achieving this objective.<\/span><\/p>\n<p class=\"bb\"><span class=\"au\">&#8220;A lot of work has gone on in the background in the past year both in terms of assessing third party finance options as well as drawing up operational oil production development plans with the government. With oil prices hovering at historical highs, it is the intention of the Company to proceed quickly to signing its first production sharing agreement with the Sudanese government.<\/span><\/p>\n<p class=\"bb\"><span class=\"au\">&#8220;It is the Company&#8217;s intention in 2023 to be up and running across multiple fields, across multiple blocks and funded via multiple third parties so that the company is producing a significant portion of the 100,000 bopd target.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wildcat Petroleum has signed an MOU to work in collaboration with the Sudanese Oil Ministry to advance the development and commercial exploitation of hydrocarbon assets in Sudan. The MOU is &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/sudan-wildcat-petroleum-signs-mou-with-oil-ministry-to-increase-production-by-100000bopd\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":12743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[253,275,282,10775,2422,10776,9891],"class_list":["post-12742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-block-1","tag-block-3","tag-block-4","tag-block-5","tag-sudan","tag-sudanese-petroleum-corporation","tag-wildcat-petroleum","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/10\/Sudan-oil-blocks.jpg?fit=602%2C426&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3jw","jetpack-related-posts":[{"id":14530,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-sudan-wildcat-petroleum-signs-mou-with-nile-petroleum-corporation\/","url_meta":{"origin":12742,"position":0},"title":"SOUTH SUDAN: Wildcat Petroleum Signs MOU with Nile Petroleum Corporation","author":"","date":"September 17, 2024","format":false,"excerpt":"Wildcat Petroleum has announced it has entered into a Memorandum of Understanding (MOU) with Nile Petroleum Corporation (Nilepet), the National Oil and Gas Corporation of South Sudan, to collaborate together for acquiring the assets held by Petronas Carigali Nile Limited (PCNL), a subsidiary of Petronas Nasional Berhad (together PETRONAS), in\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Wildcat_Logo.png?fit=400%2C505&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":14031,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sudan-wildcat-petroleum-raises-450000-towards-bamboo-oilfield-development-deal\/","url_meta":{"origin":12742,"position":1},"title":"SUDAN: Wildcat Petroleum Raises \u00a0\u00a3450,000\u00a0Towards Bamboo Oilfield Development, Eyes First Oil in Q1 2024","author":"","date":"November 1, 2023","format":false,"excerpt":"Wildcat Petroleum announces that it has raised \u00a3450,000 (gross) under difficult market conditions to see the Company through the next 12 months(+), as well as covering the cost of signing the oil developmental deal. The company adds that the placing was heavily oversubscribed (large demand) and investors had to be\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Sudan-Wildcat-field.png?fit=585%2C738&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Sudan-Wildcat-field.png?fit=585%2C738&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/11\/Sudan-Wildcat-field.png?fit=585%2C738&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14129,"url":"https:\/\/www.oilnewskenya.com\/index.php\/sudan-wild-petroleum-eyes-neighboring-countries-as-unrest-sudan-continues\/","url_meta":{"origin":12742,"position":2},"title":"SUDAN: Wild Petroleum Eyes Neighboring Countries as Unrest Sudan Continues","author":"","date":"January 8, 2024","format":false,"excerpt":"Wild Petroleum will pursue neighbouring Sudan's countries such as Chad, South Sudan, Niger, Ethiopia, Eritrea and Libya as the conflict continues to derail its planned production in 4 producing oil blocks. \"Although the Company is fully committed to establishing profitable Sudanese oil production in 2024, it will however pursue any\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/Wildcat_Logo.png?fit=400%2C505&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13915,"url":"https:\/\/www.oilnewskenya.com\/index.php\/south-sudan-wildcat-petroleum-opens-office-in-juba\/","url_meta":{"origin":12742,"position":3},"title":"SOUTH SUDAN: Wildcat Petroleum opens office in Juba","author":"","date":"September 4, 2023","format":false,"excerpt":"The current political unrest in the Republic of Sudan which flared up on the 15th\u00a0April has not fully resolved itself. However the Sudanese oil industry infrastructure has not been affected and the oil fields located around the Sudanese town of Heglig are still in operation. Since the start of the\u2026","rel":"","context":"In &quot;Eastern Africa&quot;","block_context":{"text":"Eastern Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/eastern-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/09\/Wildcat_Logo.png?fit=400%2C505&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12556,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wildcat-petroleum-provides-update-for-sudan-chad-and-south-sudan\/","url_meta":{"origin":12742,"position":4},"title":"Wildcat Petroleum Provides Update for Sudan, Chad and South Sudan","author":"","date":"August 10, 2022","format":false,"excerpt":"New areas of interest include Sudan, Chad and South Sudan. Back on the 9th\u00a0May the Company signed a reconnaissance licence for 20 offshore blocks in Sierra Leone territorial waters. REPUBLIC OF SUDAN WCAT has recently set up a Representative Office in the Sudanese capital Khartoum. This office will act as\u2026","rel":"","context":"In &quot;Central Africa&quot;","block_context":{"text":"Central Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/central-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Wildcat_Logo.png?fit=400%2C505&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11760,"url":"https:\/\/www.oilnewskenya.com\/index.php\/wildcat-petroleum-announces-appointment-of-africa-focused-upstream-oil-gas-consultancy\/","url_meta":{"origin":12742,"position":5},"title":"Wildcat Petroleum Announces Appointment of Africa-focused Upstream Oil &#038; Gas Consultancy","author":"","date":"February 7, 2022","format":false,"excerpt":"Wildcat Petroleum a company targeting investment opportunities in business and assets within the upstream sector of the petroleum industryhas announced the appointment of PETRO-TEC (PT) as petroleum consultants. PT is an international petroleum consultancy specialising in development, planning and reservoir management. They are experts in the field of Enhanced Oil\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/02\/Wildcat_Logo.png?fit=400%2C505&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=12742"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12742\/revisions"}],"predecessor-version":[{"id":12744,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/12742\/revisions\/12744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/12743"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=12742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=12742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=12742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}