EYEAFRICA TV: Saint Petersburg, MOSCOW: Sudan’s first vice president, Taban Deng Gai, is leading a South Sudanese delegation this week, to the Saint Petersburg International Economic Forum, where he talked about investment opportunities and the need for a stronger cooperation between Russia and South Sudan.
“With the resumption of peace and security, the government of the Republic of South Sudan has been especially active in attracting investment to the country. These efforts are proving successful,” Mr. Gai said.
He said they have recently signed a second exploration and production sharing agreement for the country’s biggest oil block last month, and are proud to have welcomed sizeable new entrants into the oil licenses over the past few years.
Located in East-Central Africa, South Sudan is a landlocked country that gained its independence from the Republic of the Sudan in 2011, making it the newest country with widespread recognition. Its capital and largest city is Juba.
First Vice President Gai notably insisted on the importance of the Russian support to his country’s political stability and economic prosperity. He welcomed Russia’s various initiatives to strengthen its dialogue with Africa this year, and invited more Russian companies to come and do business in South Sudan. “We have committed to a long-lasting peace, prosperity and security for our people, and have emerged as a true African and global frontier of opportunity where everything is possible and the prospect of building a new world has become a reality,” he said.
The Republic of South Sudan has been successful in bringing back damaged and oilfields into production. The national oil production has been steadily increasing to reach a current state of over 180,000 bopd. As efforts continue to develop the sector, pre-independence production levels of 350,000 bopd should be reached by 2020. The government has been reforming the business climate to attract investments across South Sudan’s economy and welcomes all foreign investors to come and make business in the country.