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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Razorbak who wrote (951)5/3/1999 8:45:00 AM
From: Tomas   of 2742
 
Sudanese Oil Reserves Surpass 1 Billion Barrels

Xinhua, May 3, 1999
KHARTOUM (April 30) - The oil reserves
explored in Hegleg, central Sudan, is
expected to reach 1.2 billion barrels by the
end of this year from the current 650 million
barrels, a senior Sudanese official has said.

Assistant Secretary of the Energy and Mining
Ministry Ali Ahmed Othman told the General
Congress of the Sudanese National Union of
Youth on Thursday that the recently
discovered reserves were proven 60 percent
successful, which is the highest percentage
in the world.

Othman also said Sudanese oil was heavy
crude, 98 to 99 percent of which were
Hydrocarbonic elements and less than 1.1
percent were sulphur, thus its damage on
machines and environment was very limited.
He predicted a promising market for the oil.

The Sudanese firms will yield 70 to 80
percent of the total oil production in the
coming five years from the current 40
percent.

Sudan has started cooperation with China,
Malaysia and Canada in oil exploration in
Hegleg since early 1997. So far some 100
wells were drilled with a total production
capacity of 7 million tons annually.

The construction of oil pipelines between
Hegleg oilfields and Bashaer port and Port
Sudan are being finalized.

President Omar Hassan Ahmed al-Bashir said
last year that Sudan would export oil by the
end of June on the occasion of the 10th
anniversary of the Sudanese National
Salvation Revolution which brought the
current government to power.
___________________________________

Xinhua, May 3
KHARTOUM -- The oil reserves explored in
Hegleg, central Sudan, is expected to reach
1.2 billion barrels by the end of this year from
the current 650 million barrels, a senior
Sudanese official has said.

Assistant Secretary of the Energy and Mining
Ministry Ali Ahmed Othman told the General
Congress of the Sudanese National Union of
Youth on Thursday that the recently
discovered reserves were proven 60 percent
successful, which is the highest percentage
in the world.
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