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Sudan woos more foreign funds into oil sector mainly from China

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2016-08-04 15:57:42Xinhua Gu Liping ECNS App Download

A Sudanese official declared that the Chinese companies acquire 75 percent of foreign investments in the country's oil sector, Sudan Tribune reported Wednesday.

Mohamed Zayed Awad, Sudanese Minister of Petroleum and Gas, also announced entry of new Chinese companies to invest in fields of gas and petroleum in the country.

He said that a delegation of the China National Petroleum Corp (CNPC) will arrive in the country late this month to get acquainted with new projects.

The company is willing to enter into new projects at a number of oil blocks, he said.

Sudan is seeking to increase its oil production after losing 75 percent of its oil revenues following the separation of South Sudan in 2011.

Before separation, Sudan's oil production amounted to 450,000 barrels a day.

 

  

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