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Sudan’s Oil Assets Back in Play After US Lifts Sanctions

Who Will Be the First to Capitalize?

Canadian-based junior oil company Stamper Oil & Gas Corp. (CSE: STMP) (OTC: STMGF) is the only international firm so far to publicly announce an agreement—partnering 50/50 with Sudan’s national oil company Sudapet on a sizeable 26,000 km2 project area, through which the export oil pipeline to Port Sudan already runs.

 

U.S. Deputy Secretary of State John J. Sullivan traveled to the Sudanese capital of Khartoum last Thursday as part of a tour of the region. The visit followed a decision from Washington last month, which lifted longstanding economic sanctions on Sudan.

Preceding Sullivan’s visit, Sudan’s oil minister Abdul Rahman Osman stated that Sudan has already held talks with several oil companies regarding Sudanese oil industry development—But aside from admitting that he’d spoken to Russian oil firm Lukoil, which has been verified by Russian media, he didn’t name the companies that are committed yet.

Canadian-based junior oil company Stamper Oil & Gas Corp. (CSE: STMP) (OTC: STMGF) is the only international firm so far to publicly announce an agreement—partnering 50/50 with Sudan’s national oil company Sudapet on a sizeable 26,000 km2 project area, through which the export oil pipeline to Port Sudan already runs.

Re-establishing Sudan’s oil

Sudan’s oil production initially fell during the aftermath of a peaceful split of the country which resulted in the newly-recognized nation of South Sudan. But as the new order between the two countries has been sorted out, it was South Sudan that got the initial lion’s share of the oil production.

Now inside its still newly-drawn borders, Sudan’s current output is 133,000 barrels per day. But having lost 75% of its oil reserves to South Sudan in the split, the north isn’t going to drag its feet in returning its oil revenues to normal. Prior to the split, oil revenue constituted more than half of Sudan’s revenue, and 90% of its exports.

Despite the setbacks, Sudanese officials appear optimistic—citing a goal of 200,000 barrels per day. As well, there’s a significant amount of blue sky on Sudanese natural gas, as the country has proven 3 trillion cubic feet of gas reserves, that still has significant potential to be developed.

And ever since U.S. President Donald Trump’s decision to formally lift sanctions on Sudan in October, there’s been reason to be optimistic.

Things are improving, and quickly.

“The government of Sudan’s actions during the last nine months show that it is serious about cooperating with the United States and has taken significant steps to stop conflict and improve humanitarian access within Sudan, and to promote regional stability,” said Heather Nauert, the State Department’s spokeswoman.

Not only did Sudan see economic sanctions lifted, but it also was removed from the US travel ban list back in September as well.

 

As Sudan works to improve its international standing, by recuperating $262 million in debt from South Sudan for its pipeline, and stabilizing its own currency to win further foreign investment, the window of opportunity to capitalize on the country’s next oil boom is now wide open.

Stamper Oil & Gas [CSE: STMP]

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Other potential suitors for Sudan

 

Chart source: NASDAQ

PJSC Lukoil (LSE: LKOH) (OTC: LUKOY)

Lukoil and its subsidiaries engage in exploration, production, refining, marketing, and distribution of oil and gas. The company’s exploration and production division explores for, develops, and produces crude oil. Its refining, marketing and distribution division processes crude oil into refined products; purchases, sells, and transports crude oil and refined petroleum products; refines and sells chemical products; and produces and distributes steam and electricity, as well as provides related services. The company operates 5,556 filling stations in 35 countries, as well as markets its own and third-party crude oil and refined products through wholesale and retail channels in Russia, Europe, the Southeast Asia, Central and North America, and internationally. PJSC LUKOIL was founded in 1993 and is based in Moscow, Russia.

 

Chart source: NASDAQ

Baker Hughes (NYSE: BHGE)

Baker Hughes is a GE subsidiary company that provides integrated oilfield products, services, and digital solutions worldwide. They offer upstream services, including evaluation, drilling, production, and completion; midstream services comprising equipment and services for LNG, and pipeline and storage; and chemical, mechanical, digital, and service solutions for refinery and petrochemical operations. Baker Hughes also provides power and processing technologies for industrial applications; as well as control, sensing, monitoring, and inspection solutions for industrial facilities. In addition, the company offers enterprise oil and gas software. Baker Hughes is headquartered in Houston, Texas.

 

Chart source: NASDAQ

Exxon Mobil Corporation (NYSE: XOM)

Exxon Mobil explores for and produces crude oil and natural gas in the United States, Canada, South America, Europe, Africa, Asia, and Australia/Oceania. It also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products. The company has approximately 35,047 gross and 29,375 net operated wells. Exxon Mobil Corporation has collaboration agreements with Eagle LNG Partners LLC and Crowley Maritime Corporation to collaborate on the development of LNG as a marine fuel. Exxon Mobil was founded in 1870 and is headquartered in Irving, Texas.

 

Chart source: NASDAQ

Tullow Oil plc (LSE: TLW) (OTC: TUWLF)

Tullow is an oil and gas company that engages in exploration, development, and production activities. The company operates through West Africa, East Africa, and other New Ventures segments. Its portfolio comprises approximately 100 licenses covering 253,034 square kilometers in 18 countries. Tullow was founded in 1985 and is headquartered in London, the United Kingdom.


Learn more about what has investors lining up for this opportunity

For a more in-depth look into Stamper Oil & Gas [CSE: STMP], view their website at: http://www.stamperoilandgas.com


Sources: Sudan Tribune

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