South Sudan to Take Over Oil Operations in Nationalization Drive
- Producer expects to realize plan in next five years: official
- Output has dropped to 130,000 b/d after sustained floods
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South Sudan is taking steps to take over the operations of international oil companies in the country to increase its share of revenue, even as production declines, according to a government official.
The plan, to be implemented over five years, reflects moves by other African nations to play a more active role in their own oil and gas fields. South Sudan has been boosting the role of state-owned Nile Petroleum Corp., taking over assets as contracts expire.