Africa-Press – South-Sudan. South Sudan’s state-owned Nile Petroleum Corporation (Nilepet) has cleared $120 million in inherited liabilities and is facing renewed investor interest, with Gulf Petroleum LLC seeking to acquire a 30 per cent stake previously held by Petronas, according to a report presented to President Salva Kiir on Wednesday.
The update was delivered by Nilepet Managing Director Emmanuel Athiei Ayual, who briefed the president on recent financial and operational developments in the oil sector, including efforts to stabilise the company after taking over assets formerly controlled by Petronas.
Ayual confirmed that Nilepet has “cleared USD 120 million in Dar Petroleum liabilities inherited from Petronas,” a move he said significantly improves the company’s financial position.
He noted that settling the debt will enable Nilepet to better meet “salary obligations and support priority Government responsibilities,” while strengthening its role in managing the country’s oil resources.
The clearance of the liabilities marks a critical step in Nilepet’s transition following Petronas’ exit, removing a key financial burden that had weighed on the company’s operations. Officials say the move could also improve confidence among potential investors looking to enter South Sudan’s oil sector.
At the same time, the report highlighted growing interest from Gulf Petroleum LLC, with the statement noting that the Qatar-based firm “has expressed interest in acquiring 30 per cent stake previously held by Petronas, now under Nilepet’s control.” If finalised, the deal would introduce a new foreign investor into one of the country’s key oil holdings and reshape the ownership structure of the assets.
While no agreement has yet been announced, the expression of interest signals a broader push by Nilepet to attract new partners following the restructuring of its portfolio. The company said it remains open to future investment, particularly in major operating blocs such as the Sudd Petroleum Operating Company (SPOC) and the Greater Pioneer Operating Company (GPOC).
The briefing to Kiir also touched on ongoing efforts to ensure smoother crude oil exports. Following a recent visit to Port Sudan, officials said “key outstanding financial matters were resolved,” addressing issues that had previously disrupted the flow of South Sudan’s oil.
Further engagements are expected later this month, with Sudanese oil firms, including Petco and Bapco, set to travel to Juba for additional discussions on transportation arrangements.
Officials say the combination of debt clearance and potential new investment could help boost oil revenues, though the outcome will depend on the successful conclusion of ongoing negotiations and the entry of new partners into the sector.
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