Sudan signs contract with Wildcat Petroleum

Sudan Events-Talal Muddassir

The Wildcat Petroleum Company on Friday said it was back on track with its plans to increase oil production in Sudan in the wake of the fighting that has been raging since April of last year.

Wildcat Petroleum shares fell 24% to 0.28 pence on Friday morning in London.
The London-based company which is investing in the oil exploration, production and industry sector said that the Sudanese Ministry of Oil indicated that it would sign a service agreement for the company to increase oil production in the Bamboo oil field.

Wildcat said it has sent proposals on how it intends to proceed with the work programme, and is awaiting a decision from the ministry.
It indicated that it hopes to convert the service agreement into a production sharing agreement once the political situation in Sudan stabilizes.
The company added that it will pursue other “attractive opportunities” in neighboring countries such as Chad, South Sudan, Niger, Ethiopia, Eritrea and Libya.