Sudan's government expect a deficit in the supplies of crude oil and oil derivatives in 2018, with the import costs estimated at more than 2 bln Sudanese pounds ($300 million), according to a Finance Ministry official on November 14, 2017.
Sudan's State Minister at Oil Ministry Saad-Eddin Al-Bushra, while presenting a statement to the parliament, announced a declining of oil companies due to accumulation of their debts.
He said the country's oil production dropped to 88,000 barrels a day, with an average reduction of 12% attributing that to the decrease in the oil prices in the international market and accumulation of the companies' debts.
In the past, Sudan's oil production amounted to 105,000 barrels a day.
Following the separation of South Sudan in 2011, Sudan lost around 75 % of its oil revenues.
According to Sudan’s minister, foreign companies are interested in developing onshore projects as well as offshore natural gas projects in the Red Sea.
Russian Lukoil is in talks for new projects in the UAE, Kuwait, and Sudan, said the company’s CEO Vagit Alekperov.
Alekperov was planning to hold talks with Sudan’s oil minister regarding cooperation in the African country.
«He also asked to meet and discuss certain projects in the territory of Sudan, which has not been viewed before by the company as interesting for our investments,» Tass quoted Alekperov as saying, referring to the Sudanese oil minister Osman Abdulrhman.
