Radebe refutes claims of 'dodgy' oil deal in South Sudan | IOL News

Cape Town - Energy Minister Jeff Radebe said on Thursday his plans for potential South African involvement in an oil venture in South Sudan were above board and aimed at securing access to cheaper crude oil and curbing the local fuel price.

"South Sudan is a significant oil producer with estimated reserves of 3.5 billion barrels of crude oil. It also has 3 trillion cubic feet of natural gas in its estimated reserves. The country’s reserves are ranked third largest on the African continent after Nigeria and Angola," Radebe said. The project was initiated by an invitation from South Sudan late last year to take part in its oil and gas sector and Radebe was authorised to sign a memorandum of understanding on behalf of the government.

"This is not only for South Sudan but for the East African region including Ethiopia, Tanzania, Uganda and Kenya, with Sudan creating a robust market that facilitates trade and other investment opportunities."

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