While no one is willing to get involved in exploiting oil in war-torn Sudan, South Africa has decided to invest R14bn in the industry.
The investment, which is widely regarded as extremely risky, can apparently be valuable while sanctions can cause oil and oil exports by Venezuela and Iran to be temporary.
The South African State-owned “Strategic Fuel Fund” and the South Sudan Nile Petroleum Corps. will apparently exploit a 31,000-square-kilometer site where 3.5 billion barrels of oil are expected to be available.
The oil mining will start immediately and can provide oil for six years, but experts point out that the search for oil in the area will only begin and there is no exploitation yet.
Political analysts, however, are worried about Jeff Radebe’s involvement in signing the deal.
Read the original article in Afrikaans at Die Vryburger
This report does not necessarily reflects the opinion of SA-news.