South Sudan’s state oil firm Nile Petroleum Corporation (Nilepet) has cleared $120 million in liabilities linked to Petronas, resolving financial issues that had disrupted crude exports, the president’s office said.
President Salva Kiir received the update on Wednesday from Emmanuel
Athiei Ayual, Nilepet’s managing director, on the oil sector’s performance and
efforts to streamline crude transportation to international markets.
The liabilities were tied to Dar Petroleum Operating Company,
where the Malaysian firm previously held stakes.
“The Managing Director confirmed that Nilepet has cleared
USD 120 million in Dar Petroleum liabilities inherited from Petronas,
strengthening its financial position to meet salary obligations and support
priority Government responsibilities,” the statement said.
The director said the settlement is expected to stabilize
oil exports and boost revenues.
The update followed Ayual’s visit to Port Sudan on March 29,
where he met with Petrolines for Crude Oil and Bashayer Pipeline Company to
discuss tariffs and crude transportation.
Sudanese firms, including Petco and Bapco, are expected in Juba
later this month to advance transport arrangements.
Meanwhile, 35 Gulf Petroleum LLC, a Qatar-based company, has
expressed interest in acquiring a 30 percent stake formerly held by Petronas
and now under Nilepet’s control.
Nilepet said it remains open to new investors in Sudd Petroleum Operating Company (SPOC) and Greater Pioneer Operating Company (GPOC), signaling continued opportunities for private sector participation in South Sudan’s oil industry.