Sudan may offer stakes to Indian oil firms

Sudan may offer equity stakes to Indian oil firms in its four exploration blocks, the country’s energy minister Lual A Deng said on Saturday.

“There is a possibility. We are open to giving more oil to India and encourage the Indian government to invest in Sudan,” Deng said, when asked if his country would offer stakes in new exploration blocks to Indian firms.

India’s state-run explorer Oil & Natural Gas Corp currently has a 25 percent stake in Sudan’s Greater Nile Petroleum Operating Company.

Deng, who is in Delhi to attend energy conference Petrotech, said Sudan has four exploration blocks in which the country could offer stakes to Indian firms.

State-run oil firms such ONGC.BO, Indian Oil Corp, Oil India Ltd and GAIL (India) would make presentations to Sudan’s government, India’s junior oil minister Jitin Prasada said.

Deng also said the African nation’s oil output would rise to 600,000 barrels per day (bpd) next year from the current 470,000 bpd.

In an interview with Reuters last month, Deng said Sudan aimed to increase oil production to 1 million barrels per day within three years relying on new finds and more efficient oil extraction methods.

Source: Reuters