South Sudan shopping for investors to build oil refinery

South Sudan is on a mission to secure investors for the construction of an oil refinery in Juba, with the goal of doubling revenues from oil exports as peace and stability make a comeback in the once war-torn nation. In an exclusive interview with Dr. Matiok Santino Akuei, Director General of Finance, Services & Administration at Nile Petroleum Corporation (NilePec), the significance of this investment was highlighted. The project, spanning over eight years, has amassed a total cost of 29 million US dollars. As the project's lifespan nears completion, Dr. Akuei expressed gratitude to the stakeholders and leadership involved in the initiative. The construction of the refinery holds immense importance for NilePec and the people of South Sudan, as it will alleviate challenges related to rent and streamline operational activities for staff and administration. With the country poised to significantly increase oil production, the development of the refinery is crucial for uplifting the oil and gas industry. NilePec is prepared to venture into agriculture, investments, and refinery operations to propel sector growth. The refinery's estimated initial cost stands at three billion dollars, with plans in place to establish it in Block 5A. Dr. Akuei mentioned that partners have been identified to invest in the project, which will not only benefit South Sudan but also cater to potential markets in African countries such as Kenya, Uganda, and Congo. Additionally, Sudan remains a promising market for heavy fuel in the region. Dr. Akuei extended a message to potential investors, highlighting South Sudan's economic stability and minimal risk, making it an attractive destination for investments in the oil sector. The government offers investment incentives, including exemptions and corporate tax benefits, to facilitate investment in the country's burgeoning oil industry. NilePec stands ready to collaborate with investors interested in the oil sector, emphasizing their readiness to engage and work together towards mutual success.