James Morgan, South Sudan ambassador to Ethiopia and the African Union, said with his country enjoying relative peace after nearly five years of civil war, South Sudan has turned its sights on reviving its oil sector.
South Sudan depends on oil production to finance more than 90 percent of its fiscal expenditure despite ongoing efforts to increase non-oil revenues.
“With the signing of the September 2018 peace agreement, South Sudan has been able to open five oil fields that were closed during the war,” Morgan told Xinhua.
“At the moment South Sudan produces around 350,000 barrels of oil per day, but with the opening of previously closed oil fields and ongoing rehabilitation of currently operating oil fields, we are optimistic South Sudan will hit the 1 million barrels of oil per day mark by end of 2019,” he further said.
Morgan called on key development partners, including China, to support South Sudan’s efforts to rehabilitate its oil sector that was severely hurt by the civil war.