South Sudan is asking crude producers for a total pre-payment of $2.5 billion, which it intends to refund through future production that would have been entitled to Petroliam Nasional Bhd.
In separate letters sent in October to ONGC Nile Ganga BV and a unit of China National Petroleum Corp. and seen by Bloomberg, the petroleum ministry asked for $1 billion and $1.5 billion respectively to be repaid in 54 months.
The two companies were in consortia with Petronas before the Malaysian multinational abandoned its assets in South Sudan, which were subsequently confiscated by the state-owned Nile Petroleum Corp.
“We hope the agreement will be worked within one month from the date of receipt of this letter,” according to both leaked documents, which the ministry confirmed as authentic.
Both companies were not readily available to comment.
The ministry said the leak “constitutes a gross violation of government confidentiality, ethics, and national security protocols.”
State coffers in South Sudan — which relies on crude exports for more than 90% of government revenue — have run dry as a war in neighboring Sudan froze nearly the nation’s entire export.
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