• Wednesday, 16 May, 2012

Jarch bolsters claim to troubled Sudan block

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By Barry Morgan

 06 September 2006 17:57 GMT

Hong Kong-based Jarch Management Group (JMG) said today it had bought New York venture finance company Jarch Capital’s concession for the much-disputed Block B in southern Sudan.

The acreage is claimed in whole or in part by Total, Petronas, UK minnow White Nile, Moldova’s Ascom Group and US indie Edge Petroleum.

Both Jarch companies are legally separate and each had previously signed extensive oil and commodity exploration and trading deals covering the war-torn south of the country.

Jarch Capital’s deal for the concession was signed in 2003 by members of the Sudan Peoples Liberation Movement, which now forms part of the government of South Sudan under a resources and power-sharing pact inked in January 2005.

The latest move by JMG’s chief executive Saville Lau consolidates the scope and terms of both licences ahead of a fresh attempt by Sudan's National Petroleum Commission to sift through contending claims.

Ethnic Nuer rebel leader General Gabriel Tang, currently chief of operations for the South Sudan Defence Force, is known to resent his militia's exclusion from the peace agreement and is understood to be one of the signatories on JMG’s original deal for the concession.

JMG recently reorganised its board of advisors to include disparate Sudanese militia figures along with international business figures from the Far East and itself may be courting a farm-in partner.

The supreme commander of the South Sudanese Defece Force, General Gordon Koang, hinted earlier this week hthat JMG could become the largest oil company in southern Sudan.

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