Sudan To Up Oil Exports; Hopes To Join OPEC - Opec News Agency
June 7, 1999
Dow Jones Newswires
LONDON (Dow Jones)-- Sudan , which will start to export 150,000 barrels a day of crude oil at the end of this month, hopes to join OPEC in the future, according to Opecna, OPEC's official news agency.
Quoted by Saudi Arabia's Asharq al Awsat newspaper, Sudanese minister of state at the Ministry of Energy, John Dore, said his country hoped to raise its production capacity to 270,000 b/d within one year, Opecna said.
Dore said Sudanese crude would be exported to Port Sudan on the Red Sea through a 1,600-kilometer pipeline from fields at al Wahda Province in the south of the country.
He said Sudan would earn $200-$300 million a year from oil exports, which would help the government pay its oil import bill, the agency reported.
He also said the country, had an estimated oil reserve of 800 million barrels, including deposits of high-quality crude.
The average cost of production of a barrel of Sudanese oil was $4.00, he added, according to Opecna. |
