The Equatorial Guinea and South Sudan revealed on Monday an oil and gas partnership. The agreement was announced in Juba (the capital of South Sudan) following the visit of Gabriel Mbaga Obiang Lima , the minister of oil of Guinea oil of the the Equatorial Guinea. The minister of Oil of South Sudan Ezekiel Gatkuoth Lol said in a press statement that the new agreement will pave the way for information exchange between the two countries.
According to him, Partnership is what fuels the oil
industry, adding that South Sudan is proud to share its experiences with Equatorial Guinea, and to learn from the great work of a fellow African producer.The minister of oil of Guinea oil of the the Equatorial Guinea praised South Sudan for the new agreement, stating that sharing of expertise between the two countries was vital.
Lima added that the deal signaled their dedication to investing in the sector as a driver for South Sudan's growth.He said that "The sharing of resources and knowledge between African oil and gas countries is critical .Going forward, Equatorial Guinea will work closely with South Sudan for the benefit of the people and national economies,".
The young nation was working to produce about 290 thousand barrels per day.Since its independence in 2011,South Sudan has relied on
oil revenue to fund its projects .The economy of this young nation was currently facing collapse after the outbreak of war in 2013.
The sharing of resources and knowledge between African oil and gas countries is critical. In this context, Equatorial Guinea wants to work closely with South Sudan for the benefit of the citizens and national economies. Equatorial Guinea is nearing the close of its EG Ronda 2016 licensing round.The EG Ronda will conclude at the Africa Oil & Power 2017 conference in Cape Town, South Africa where South Sudanese President Salva Kiir will deliver a keynote address and the ministers of both nations will meet investors and promote their oil and
gas industries and projects.
