Sudan Keen On More Investment From Petronas

KUALA LUMPUR, Nov 2 (Bernama) — Sudan would like to see Petronas expand its operations in its country, the largest in the African continent, by investing more and seeking more concessions in the oil sector.

Sudan Undersecretary, Ministry of Foreign Affairs, Dr Mutrif Siddig Ali in making the call in a recent interview with Bernama here, said that currently the Malaysian national oil company was just maintaining its existing business there.

He said Petronas must be bold and make clear decisions to invest more, describing that such a move would also bring more profits to Malaysia’s national oil company.

“They (Petronas) are maintaining (existing operations)…but not expanding. They can double or triple profit if bold (enough) to expand their investment,” he said.

They can make profit…but must take some bold steps to expand their investment, he stressed.

Petronas’ biggest investment in Africa and the Middle East is in Sudan.

Malaysia is Sudan’s second most important economic partner after China and one of its major investors. Petronas, the national oil corporation, is the largest Malaysian company and a key player in Sudan’s oil and gas industry.

Siddig Ali said in the last 10 years Sudan had been recording a steady growth in gross domestic product (GDP) at between 10 and 13 per cent.


~ by abuaina on November 4, 2009.

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