South Sudan turning the curve to be leading oil exporter

South Sudan is making significant strides in the development of its petroleum sector, aiming to become a leading oil exporter in the region. In a recent interview with CNBC Africa, Akol Dok, Managing Partner at Orus, discussed the country's oil prospects amidst ongoing conflict and efforts to attract investments. Dok highlighted the progress in the maturation of the petroleum industry, with a focus on localization and the development of skills among South Sudanese individuals and companies. The vision of NAWPAD and the South Sudanese leadership is to have an oil sector led by locals, which is evident in the investment in the national oil company and infrastructure such as a prominent government building. Additionally, there are ongoing efforts to increase oil production in the country. While South Sudan has faced challenges in terms of security and political stability, Dok emphasized that the country is implementing a peace agreement and preparing for elections, signaling positive progress. The current president's involvement in regional mediation efforts also reflects South Sudan's commitment to stability and development. Despite economic challenges and the impact of conflicts with Sudan, there is optimism for the future of the South Sudanese economy. Dok highlighted the potential for the oil sector to rebound to pre-conflict production levels, which would help alleviate economic pressures. South Sudan's role in the African Continental Free Trade Area is also promising, with the country's agricultural potential and significant oil reserves positioning it as a key player in the region. South Sudan has the resources to be a major agricultural producer, offering products like sorghum, maize, rice, fruits, and gum arabic for export. Additionally, the country boasts the third largest oil reserves in Sub-Saharan Africa, with the potential to supply fuel to the region and establish itself as an energy powerhouse. The combination of agriculture and oil resources makes South Sudan a valuable partner in the Africa continental free trade market, especially with the current president of the EAC advocating for regional cooperation and development. As South Sudan continues to invest in its petroleum sector and enhance stability, the country is poised to leverage its resources for economic growth and participate actively in regional trade and development initiatives.