Thread on #SouthSudan petroleum industry
1/14
Abbrs.:
RSS = Republic of South Sudan
GPOC, SPOC & DPOC = Greater Pioneer-, Sudd Petroleum- & Dar Petroleum- Operating Company
EPSA = Exploration & Production Sharing Agreement
JOC = Joint Operating Company
kbpd = '000s 🛢 per day.
1/14
Abbrs.:
RSS = Republic of South Sudan
GPOC, SPOC & DPOC = Greater Pioneer-, Sudd Petroleum- & Dar Petroleum- Operating Company
EPSA = Exploration & Production Sharing Agreement
JOC = Joint Operating Company
kbpd = '000s 🛢 per day.
2/14
RSS currently has 3 oil consortia operating in 6 blocks spread btn Ruweng A.A., Unity & Upper Nile States.
Figure 1: South Sudan Petroleum Blocks
RSS currently has 3 oil consortia operating in 6 blocks spread btn Ruweng A.A., Unity & Upper Nile States.
Figure 1: South Sudan Petroleum Blocks
3/14
The consortia are:
1) GPOC operates blocks 1, 2 & 4 in both Ruweng A.A. & Unity State.
Its shareholders are:
CNPC 🇨🇳 40%
Petronas 🇲🇾 30%
ONGC 🇮🇳 25%
Nilepet 🇸🇸 05%
On 25th Aug., '18 GPOC resumed crude oil production since its abrupt shutdown back...
The consortia are:
1) GPOC operates blocks 1, 2 & 4 in both Ruweng A.A. & Unity State.
Its shareholders are:
CNPC 🇨🇳 40%
Petronas 🇲🇾 30%
ONGC 🇮🇳 25%
Nilepet 🇸🇸 05%
On 25th Aug., '18 GPOC resumed crude oil production since its abrupt shutdown back...
4/14
...in Dec., '13. Current production is ~20-30 kbpd of Nile Blend (34°API, 0.06% sulfur) which is processed at Heglig CPF b4 pumping it through GNPOC Pipelines to Port Sudan for shipment to the int'l market.
2) SPOC operates block 5A in Unity State. Its shareholders are:...
...in Dec., '13. Current production is ~20-30 kbpd of Nile Blend (34°API, 0.06% sulfur) which is processed at Heglig CPF b4 pumping it through GNPOC Pipelines to Port Sudan for shipment to the int'l market.
2) SPOC operates block 5A in Unity State. Its shareholders are:...
5/14
...
Petronas 🇲🇾 67.9%
ONGC 🇮🇳 24.1%
Nilepet 🇸🇸 08.0%
SPOC has been on shutdown mode since outbreak of civil war in Dec., '13. With signing of R-ARCSS in '18 the company has embarked on reinstating its production facilities. It's anticipated to resume production...
...
Petronas 🇲🇾 67.9%
ONGC 🇮🇳 24.1%
Nilepet 🇸🇸 08.0%
SPOC has been on shutdown mode since outbreak of civil war in Dec., '13. With signing of R-ARCSS in '18 the company has embarked on reinstating its production facilities. It's anticipated to resume production...
6/14
...by 4Q '21. Block 5A's crude is a heavy version of Nile Blend oil.
3) DPOC operates blocks 3 & 7 in Upper Nile State. Its shareholders are:
CNPC 🇨🇳 41%
Petronas 🇲🇾 40%
Nilepet 🇸🇸 08%
Sinopec 🇨🇳 06%
Tri-Ocean Energy 🇪🇬 05%
...by 4Q '21. Block 5A's crude is a heavy version of Nile Blend oil.
3) DPOC operates blocks 3 & 7 in Upper Nile State. Its shareholders are:
CNPC 🇨🇳 41%
Petronas 🇲🇾 40%
Nilepet 🇸🇸 08%
Sinopec 🇨🇳 06%
Tri-Ocean Energy 🇪🇬 05%
7/14
DPOC produces ~120 kbpd of Dar Blend (26°API, 0.1% sulfur) which is processed at Al-Jabalain CPF in Sudan b4 pumping it through PDOC Pipelines to Port Sudan for shipment to the int'l market.
DPOC produces ~120 kbpd of Dar Blend (26°API, 0.1% sulfur) which is processed at Al-Jabalain CPF in Sudan b4 pumping it through PDOC Pipelines to Port Sudan for shipment to the int'l market.
8/14
Key takeaway from the EPSAs btn Gov't of RSS & the 3 petroleum consortia investors is production sharing which:
a) is based on 2 components:
i) Cost oil - shouldered by shareholders (40-50% of total production)
ii) Profit oil - divided among shareholders & Gov't of RSS..
Key takeaway from the EPSAs btn Gov't of RSS & the 3 petroleum consortia investors is production sharing which:
a) is based on 2 components:
i) Cost oil - shouldered by shareholders (40-50% of total production)
ii) Profit oil - divided among shareholders & Gov't of RSS..
9/14
...& b) it's determined by 3 key inputs:
i) Price - it determines the volume of monetized oil that'll be allocated to recover cost oil.
ii) Production volume - is the cornerstone of production sharing. Higher volumes -> more oil to share btn the contractor & Gov't of RSS.
...& b) it's determined by 3 key inputs:
i) Price - it determines the volume of monetized oil that'll be allocated to recover cost oil.
ii) Production volume - is the cornerstone of production sharing. Higher volumes -> more oil to share btn the contractor & Gov't of RSS.
10/14
iii) Operating & Capital expenditures - contractor is permitted to recover 100% of all eligible expenses on the producing property. However, cost recovery is restricted to a maximum amount of the monetized crude oil in any month. The cost recovery maximum is btn 45%-50%...
iii) Operating & Capital expenditures - contractor is permitted to recover 100% of all eligible expenses on the producing property. However, cost recovery is restricted to a maximum amount of the monetized crude oil in any month. The cost recovery maximum is btn 45%-50%...
11/14
...of the crude produced depending on the license area of delivery.
The following tables show the EPSA fiscal terms for each JOC.
Table 1: GPOC fiscal terms (credit: MoP, RSS)
...of the crude produced depending on the license area of delivery.
The following tables show the EPSA fiscal terms for each JOC.
Table 1: GPOC fiscal terms (credit: MoP, RSS)
12/14
Table 2: SPOC fiscal terms (credit: MoP, RSS)
Table 2: SPOC fiscal terms (credit: MoP, RSS)
13/14
Table 3: DPOC fiscal terms (credit : MoP, RSS)
Table 3: DPOC fiscal terms (credit : MoP, RSS)
14/14
Sources;
1) Ministry of Petroleum, RSS
🌐 mop.gov.ss
2) Nilepet
🌐 nilepet.com
3) EIA
🌐 eia.gov
4) Africa Oil & Power
🌐 energycpitalpower.com
End of thread.
#SouthSudan
#SSOT
#oilandgas
Sources;
1) Ministry of Petroleum, RSS
🌐 mop.gov.ss
2) Nilepet
🌐 nilepet.com
3) EIA
🌐 eia.gov
4) Africa Oil & Power
🌐 energycpitalpower.com
End of thread.
#SouthSudan
#SSOT
#oilandgas
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