South Sudan’s state-owned oil company, Nilepet, has taken control of oilfields and assets previously managed by Malaysian oil giant PETRONAS, which has decided to exit the country after 14 years in operation.
The transfer was finalized after PETRONAS announced its withdrawal from South Sudan’s energy sector. The decision came following a high-level meeting chaired by President Salva Kiir in the capital, Juba, attended by senior officials from South Sudan’s Ministry of Petroleum, key stakeholders, and the chairman of the board of directors.
According to the state-owned South Sudan Broadcasting Corporation (SSBC), discussions during the meeting focused on PETRONAS’ departure from the oil sector. The decision was based on recommendations presented by a technical committee to the president.
Former Presidential Affairs Minister Bangasi Joseph Bakosoro confirmed that all PETRONAS’ assets and shares would be transferred to Nilepet. He also noted that the South Sudanese government would formally notify PETRONAS of its acceptance of the company’s withdrawal.
Chol Thon Abel, Undersecretary at the Ministry of Petroleum, affirmed that Nilepet would assume all responsibilities previously held by PETRONAS and actively seek partnerships with international companies to ensure uninterrupted operations in the oilfields.
Abel emphasized that the government’s engagement was solely with PETRONAS’ subsidiary in South Sudan, rather than the parent company, PETRONAS International Limited, underlining the specific focus on the local subsidiary’s role in the country’s oil sector.
South Sudan, which gained independence from Sudan in 2011, still depends on its northern neighbor for oil exports.
