Sudan to inaugurate new oil field with capacity of 50,000 bpd
Sudan announced that a new oil field will begin production in the Upper Nile state with a capacity of 50,000
bpd.
The field named "Qamari" will be opened in March by Sudanese president Omer Hassan Al-Bashir, the director of
exploration at the Ministry of Energy and Mining Azhari Abdullah told. The Sudanese official said that the field
which costs $ 30 mm contains 75 wells, 23 with an operating capacity of 30,000 bpd that will go up to 50,000 bpd upon
the completion of other wells.
Sudan is targeting average crude oil production of around 500,000 bpd in 2009, higher than current output of 450,000
to 460,000.
The East African country is heavily dependent on crude exports which represent 65 % of its annual revenue. However a
severe global financial crisis sent oil prices down more than 76 % from its all-time peak of $ 147.27 reached July
11.
The oil prices drop is likely to slow down any investment in the petroleum sector by oil producing countries
worldwide.
The Organization of the Petroleum Exporting Countries (OPEC) has decided on several cuts to oil output in 2008 to
halt the drop in process. Sudan is not a member of the oil cartel.
