South Sudan Launches First Ever Oil Licensing Round

World Oil. (2021, July 23). South Sudan Launches First Ever Oil Licensing Round. Retrieved July 30, 2021, from https://www.worldoil.com/news/2021/6/23/south-sudan-launches-first-ever-oil-licensing-round

South Sudan, essentially untouched land to oil companies, is for the first time leasing its land for exploration and production to oil. According to an analysis by the ministry, around 90% of South Sudan’s reserves are unexplored. Sudan is looking for ‘high-quality’ investors who are experienced and foreign, who will bid for blocks that will be evaluated by the MoP. China and Malaysia already accompany the region that will be leased off to the bidders. The available blocks are tending to be from 15,000-20,000km^2 which is about double the average size of a block. Sudan will be offering 14 blocks total but only 5 blocks in the first round of bidding. And will open up more as time goes on, eventually until all available blocks are occupied. 

With the influx of Companies now testing out new untapped lands the resulting detriments seem that they will only rise. We have already been warned about the problems that come with fossil fuels and now with having the lowest amount of them then ever we are still making a push to find the last bit and extract it. Although yes this will benefit our economy and our society for a short period of time, it is only prolonging the main search and need for alternative energy. As we push for the last bit of oil we will grow that much more complacent and not be trying to improve the renewable energy sources. The race for the untapped oil is not what we need as we will soon almost completely remove oil from our world creating a collapse and furthermore polluting the already damaged environment.

 

2 thoughts on “South Sudan Launches First Ever Oil Licensing Round

  1. I completely agree ! People assume that we have an abundance of oil and that we’ll never run out, but that is not the case. Oil is extremely scarce as we must limit our use of it for the long run of our economy as well as environment.

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