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Friday, 21 November, 2008, 23:10 GMT | more >>

White Nile sees 25% Sudan stake



By Upstream staff 

UK-based White Nile said it expected to take a 25% stake in a new consortium to explore and develop southern Sudan's Block B.

The company said it had been told by representatives of southern Sudan's semi-autonomous government that agreement had been reached with the Khartoum-based Sudanese government over the concession granted to White Nile for Block Ba.

White Nile said it understood from the representatives that it would be part of a consortium led by Total with a 35% stake and including Kuwait's Kufpec (20%) as well as SudaPet (10%) and NilePet (10%), the state petroleum companies of northern and southern Sudan respectively.

NilePet already holds a 50% stake in White Nile.

Talks are continuing between the two governments and White Nile said it was continuing to seek clarity.

Drilling of the company's Kedelai-1 well was halted last month, reportedly on orders of southern Sudanese President Salva Kiir.


Thursday, 14 June, 2007, 16:43 GMT  | last updated: Thursday, 14 June, 2007, 18:24 GMT

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