ABU DHABI (Zawya Dow Jones), Jun. 2, 2009
Sudan is aiming to double its current oil production by 2015 and has started talks to acquire exploration and production rights in foreign blocks in Indonesia, Sudan's national oil company head said Tuesday.
"Sudan is currently producing more than 500,000 barrels a day and that is from only 20% of the sedimentary basins. There is still 80% of the basins to be explored," Salah Wahbi, Chief Executive of Sudan Petroleum Corp., or Sudapet, told Zawya Dow Jones in an interview.
"We are expecting within five to seven years from now to produce about one million barrels a day," he added.
Sudapet is also considering further cooperation with other national oil companies, in particular expansion to overseas oilfields, after being approached by Indonesia's Petramina to do an oilfield swap.
"About five weeks ago the Indonesian's proposed we acquire some of their blocks in Indonesia and they acquire more blocks in Sudan so they can strengthen their presence in Sudan," Wahbi said, adding the companies have started talks and a top delegation from Sudapet will be visiting Indonesia in August.
Copyright (c) 2009 Dow Jones & Company, Inc.
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