South Sudan’s Oil Minister has said the nation will return to producing more than 350,000 barrels of crude per day by the middle of 2020, up from current levels of just over 140,000 barrels per day (bpd).
“We used to produce 350,000 to 400,000 bpd. We expect to go back to those levels by the middle of next year” Oil Minister Ezekiel Lul Gatkuoth told Reuters.
The world’s youngest country, which split from Sudan in 2011, has one of the largest reserves of crude in sub-Saharan Africa, with only a third of which have been explored. The country lost many of its oilfields to a civil war that broke out two years after its independence; the conflicts are keeping investors cautious but interested in the reserves.