CNPC provides technical assistance to increase South Sudan oil output

On December 22nd, 2014, China National Petroleum Co, or CNPC, entered into an agreement with South Sudan to boost production of existing oilfields in the young African state. CNPC's engineering and services team will work with oil producers in South Sudan and also conduct training on technologies to enhance oil recovery (EOR), the report said. A government official said that under the deal, aging oil fields will also be rehabilitated to bolster production and exports. Oil accounts for more than 90% of South Sudan’s foreign revenues. The slump in production has left the country struggling to pay for food and other vital imports. Last month, the country’s central bank issued new restrictions on the sale of dollars to importers, citing dwindling foreign-exchange reserves. A South Sudanese oil official put production in late June at about 160,000 barrels per day. It had been in the range close to 260,000 bpd.

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