Government Navigates PETRONAS Exit: Nilepet to Take Over Oil Sector Responsibilities

Juba – In a significant move, the government convened on Monday to deliberate the impending withdrawal of PETRONAS Carigali Nile Company Limited from South Sudan’s lucrative oil sector. The decision stems from a thorough assessment conducted by a technical committee, culminating in a set of recommendations presented to President Salva Kiir Mayardit during the meeting.

Addressing the media, Minister of Presidential Affairs Bangasi Joseph Bakosoro disclosed that pending approval, all assets and shares presently under the purview of PETRONAS would be transitioned to Nile Petroleum Corporation (Nilepet). Bakosoro stressed the government’s intention to formally notify PETRONAS of its acceptance of the withdrawal through written communication.

Providing insights into the transition process, Undersecretary in the Ministry of Petroleum, Dr. Chol Thon, affirmed Nilepet’s readiness to assume the operational responsibilities previously held by PETRONAS. Dr. Thon underscored that Nilepet would proactively seek strategic partnerships with other international entities to ensure the seamless continuity of activities in the oil field.

Dr. Thon further clarified that the government’s objective is to facilitate a smooth transition period, ensuring minimal disruption to the country’s crucial oil operations while maximizing the potential for collaborative ventures to drive sustainable growth in South Sudan’s oil industry.