Sudan and South Sudan on Tuesday in Khartoum signed an agreement to extend the transitional financial arrangements deal regarding oil field and adjust some provisions to allow South Sudan to pay its financial obligation of $3,028 billion within three years.
The 2012 oil deal between the two countries stipulates that Juba would pay three billion dollars as assistance to Sudan in a period of three years.
Sudan’s Minister of Petroleum Mohamed Zayed Awad said that they agreed to extend the agreement for another three years. He pointed out that South Sudan’s oil transit fees through Sudan’s territories would remain as it is.
He explained that they also agreed to re-operate the stopped oil fields, training, capacity building and research and laboratories through the oil training center.
For his part, South Sudan’s Minister of Petroleum Ezekiel Gatkuoth, expressed his happiness over the two countries’ agreement to extend the oil financial arrangements deal for three years.
Gatkuoth reiterated his country’s commitment to implementing all items of the agreement. He said that the agreement will open a new chapter of cooperation between the two countries for the coming three years.