South Sudan: South Sudan Grants Oranto Permit to Explore `Vast' Oil Block

Mar 6, 2017 | Okech Francis, Bloomberg
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South Sudan’s government said it granted Oranto Petroleum International Ltd. a license to explore for oil in a block covering three states in the East African nation that may contain “vast” deposits of oil. Oranto, a closely held Nigerian company, will share the block with South Sudan’s state-owned Nile Petroleum Co., Petroleum Minister Ezekiel Loi Gatkuoth told reporters in the capital, Juba. Lagos-based Oranto plans to invest $500 million on exploration and development of the project, it said in a separate statement.