Russian State Geological Company (Rosgeo) and the Minister of Petroleum of South Sudan have signed a memorandum of understanding (MoU) today in Port Sudan, Sudan, that promises to further Russia’s investment in South Sudan’s energy sector.

Minister of Petroleum H.E. Ezekiel Lol Gatkuoth stated: “South Sudan is a partner that welcomes investors with the knowledge and capacity to develop our world-class resources alongside our own public and private sectors. Rosgeo is such a company, with a depth of understanding of the oil and gas sector that will be a real asset. Russian companies, and companies from all over the world, will be warmly received in Juba.”

Sudan’s Minister of Petroleum and Minerals H.E. Azhari Abdalla was present at the MoU signing. The agreement is said to strengthen relations already established between the Ministry of Petroleum and Rosgeo over recent years.

The ministry and Rosgeo will continue to discuss areas of interest such as the building of a refinery, oil and gas exploration, development of an oil and gas license and other petroleum-related activities in South Sudan.

Source: Africa Oil & Power     l     KeyFacts Energy Industry Directory: Rosgeo