News Column

Sudan : PETRONAS to increase oil investments in SUDAN

May 13, 2014

On Monday, Sudan s oil minister, Makkawi Mohamed Awad, announced that oil reserve in Sudan is estimated to be at 4 billion barrels, expecting an increase in oil production within next couple of years.

He had a meeting with the president of the Malaysian oil and gas company, Petronas in Kuala Lumpur on Monday. During the meeting the possibility of increasing investments in areas that were proven to receive strong evidence of oil presence were discussed.

Followed by the meeting, Awad announced that new investors have started exploration in Sudan s promising new oilfields.

Awad has requested Petronas to boost its oil investments in Sudan and commence with the explorations in new oil blocs.

Sudan s oil ministry said that Petronas' president agreed to increase his company s investments through exploring in new oil blocs.

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Source: TendersInfo (India)