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Oil-rich South Sudan to resume production in war-hit region
[ARABNEWS] JUBA: Emboldened by a new peace deal, civil war-torn South Sudan said that it will resume oil production in a key region next month to make up for more than $4 billion of revenue lost during years of fighting.South Sudan, with Africa’s third-largest oil reserves, will renew drilling in northern Unity State for the first time since the fields were destroyed when the conflict began in late 2013, oil ministry officials told The News Agency that Dare Not be Named. The goal is to have all five locations there operational by the end of the year and working alongside the oil fields in Upper Nile State, which operated throughout the civil war. South Sudan’s economy is almost entirely dependent on exports of oil from its 3.5 billion barrels of reserves. Most of the oil rigs were shut down or destroyed by the civil war. The fighting that killed tens of thousands of people has also devastated the economy and sent prices for everyday items soaring. Posted by: Fred 2018-08-31 |
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