US companies discuss oil investments in Sudan

Three American companies arrived in Sudan on Sunday to discuss oil investments after the lifting of US economic sanctions.

The heads of the three investment companies discussed with officials from the Sudanese oil ministry the available investment opportunities.

Sudanese Minister of Oil and Gas, Abdulrahman Osman called on the American companies to invest in the Red Sea area and a number of empty blocks, pointing to the importance of introducing advanced technology to increase oil production.

The heads of the three companies expressed their serious desire to invest in the field of energy in Sudan and accelerate the pace of work to achieve the desired goals.

Read: US sanctions not the cause of Sudan’s economic problem

Sudan’s share of oil production fell to 120,000 barrels per day after the secession of South Sudan in 2011.

Production is expected to rise after work resumes in areas which have seen an increase in unrest.

Sudan has proven oil reserves of 6.8 billion barrels and natural gas reserves of one billion cubic metres.

In early October, the US State Department announced the lifting of economic sanctions which have been imposed on Sudan for nearly 20 years.