Sudan seeks to develop offshore oil with Brazil’s investment

Jul 20, 2006 02:00 AM

Sudan is seeking investment from Brazil’s state-run oil company to develop its offshore oil deposits in the Red Sea, the Sudanese ambassador to the South American country said.
Petroleo Brasileiro, or Petrobras, is expected to send a team to Sudan in August to consider investment options, Ambassador Rahamtalla M. Osman said on the sidelines of a meeting of South American and Arab countries in the Venezuelan capital. Osman, who is overseeing the talks with Petrobras, said five offshore and inland concessions were available.

Petrobras has developed extensive technology for drilling in deep and ultra-deep waters -- the source of 70 % of Brazilian oil, according to the company. In the Campos Basin in the Atlantic Ocean, Petrobras has successfully drilled wells at depths of some 1,000 meters (3,400 feet).
Osman also said Sudan had been invited to join the Organization of Petroleum Exporting Countries. Sudan is currently an OPEC observer.
"It is under discussion," he said. "Technical people are to decide (the merits of joining)."

One of Africa’s up-and-coming oil producers, Sudan produced an average of 363,000 bpd last year, which the government hopes to boost to 600,000 by the end of 2006.
The country’s proven reserves have more than doubled in five years to 563 mm barrels.

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