SOUTH SUDAN: PETRONAS Withdraws from 3 Blocks

PETRONAS’ subsidiary, PETRONAS Carigali Nile Limited (PCNL) has announced the withdrawal of its operations in the Republic of South Sudan (RSS).

The decision was made following a two-year period of divestment initiatives in alignment with PETRONAS’ long-term investment strategy amid the changing industry environment and accelerated energy transition.

PCNL will continue to work with all relevant stakeholders to ensure an amicable transition while being mindful of the rights of its employees, in accordance with applicable laws, petroleum agreements as well as PETRONAS’ policy and procedures.

The JOC in which Petronas was a member operates three blocks in South Sudan including operate Block 3/7 (40 per cent), Block 1/2/4 (30 per cent), and Block 5A (67.9 per cent).