South Sudan government said it had agreed to pay USD 262 million in arrears to Sudan for oil transit fees.

South Sudan’s information minister, Michael Makuei Lueth said a press statement recently that the two countries agreed that oil transit fees arrears are paid as per the agreement.

Makuei added, “We did not discuss a new agreement but the old agreement is still effective.”

South Sudan’s Minister of Finance said the debt South Sudan is to pay to Sudan is estimated as 3.2 million dollars in which 262 million dollars will be paid from the oil.

According to the 2012 Cooperation Agreement, South Sudan is expected to pay 9.1 dollars per barrel as a transit fee.