SUDAN: Wild Petroleum Eyes Neighboring Countries as Unrest Sudan Continues
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 attractive opportunities that present themselves in neighbouring countries such as Chad, South Sudan, Niger, Ethiopia, Eritrea and Libya.”
In October 2022 the Company announced that it had signed a MOU over 4 producing oil Blocks in the Republic of Sudan (Blocks 1,3,4 & 5).
It was the Company’s intention to sign an oil deal in 2023 however, these plans were temporally derailed when political unrest broke out in April 2023.
In the autumn of 2023, the Company received an indication from the Sudanese Oil Ministry that they would be prepared to sign a Service Agreement with the Company with a view to increasing oil production on the Bamboo oil field. Once the political situation has settled down the Company is hopeful of converting this Service Agreement into a Production Sharing Agreement.
The Company accepted the invitation and sent in its proposals on how it would like to proceed with a work program.
Get a copy of the South Sudan Oil Blocks overview here