The British investment company Wildcat Petroleum Plc has signed a memorandum of understanding with the Sudanese national oil and gas corporation Nile Petroleum Corp. regarding the joint acquisition of assets owned by Petronas Carigali Nile Limited (PCNL), a subsidiary of Petronas Nasional Berhad, in South Sudan. This is reported in the Wildcat press release.
Within the framework of the memorandum, a working group of representatives from Nilepet and Wildcat will be created in order to exchange information and agree on mutually beneficial terms of cooperation to increase the total volume of oil production at the expense of Petronas assets. The memorandum is valid for six months and can be extended by mutual agreement of both parties.
In August 2024, Petronas Carigali announced that it would cease operations in South Sudan after selling assets for two years as part of a long-term investment strategy amid a changing industry environment and an accelerated transition to clean energy.
Petronas owned stakes ranging from 30% to 67.8% in six oil production blocks in South Sudan under the joint operating company model.
In August 2024, Nile Petroleum took over all of Petronas' assets and responsibilities in South Sudan and confirmed its intention to seek partnerships with other international companies to continue operations and expand production.
Wildcat Petroleum Plc is an investment company focused on the oil sector. The company specializes in the exploration, evaluation, development and production of oil and gas. The headquarters is located in London (United Kingdom).
Nile Petroleum Corp. — National Oil and Gas Company of South Sudan. Nilepet is the successor company to the national oil and gas company Sudapet in South Sudan.
Petronas Carigali Nile Limited is a subsidiary of the state—owned Petronas energy company in Malaysia. Petronas' main business area is Malaysia with production sites in 20 countries. The company carries out a wide range of activities in the oil and gas sector, including oil and gas exploration and production, gas refining and liquefaction, oil refining, etc. The headquarters is located in Kuala Lumpur (Malaysia).
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