News

White Nile claims consortium involvement

14 June 2007 16:36:00

Sudan-focused oil explorer White Nile clawed back early losses as it said it had been assured by the government of Southern Sudan that it would be included in a consortium developing the Block Ba prospect in the country.

In a statement, White Nile said that it undertands that the consortium will be as follows: Total 35%, White Nile 25%, the Kuwait Foreign Petroleum Exploration Co 20%, SudaPet 10% and NilePet 10%, the latter two being the national oil companies of Northern and Southern Sudan respectively.

White Nile representatives are seeking further clarity on the situation and the company will update the market once this has been provided, it said.

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