Wildcat Petroleum has entered into a collaboration agreement with the South African State-owned firm SFF to explore oil opportunities in South Sudan, previously held by PETRONAS, following its withdrawal. This partnership aims to evaluate petroleum potential and assets in the region.

Wildcat Petroleum has announced a collaboration agreement to explore opportunities in South Sudan, which positively impacted its share prices. The company will partner with the State-owned firm SFF to examine areas previously operated by PETRONAS, focusing on the petroleum potential and assessing acquisition possibilities for the assets. This collaboration follows PETRONAS’s announcement in August regarding its withdrawal from the projects.

Mandhir Singh, the chair of Wildcat Petroleum, stated that obtaining this agreement with the South African government via SFF is a significant development for the company’s ambitions in South Sudan. He emphasized that this partnership could enhance Wildcat’s prospects, as SFF is one of the few firms that has successfully established petroleum operations in South Sudan since its independence in 2013.

In summary, Wildcat Petroleum’s collaboration with SFF marks a strategic move into South Sudan following the exit of PETRONAS from existing projects. This partnership is anticipated to amplify Wildcat’s potential in petroleum exploration, highlighting SFF’s experience in the region. Overall, this development is viewed favorably by investors and industry observers alike.

Original Source: www.proactiveinvestors.co.uk