South Sudan said Wednesday it will host an international energy conference in November to woo global investors and service companies to strengthen the country's dwindling economy.
Ezekiel Lol Gatkuoth, South Sudan's Petroleum Minister, said the second oil conference will affirm Juba's commitment to spur the sector's growth following the peace deal signed in September.
"All the arrangements to host a two-day conference scheduled for Nov. 21-22 is in progress. The event will focus on addressing the challenges facing the oil exploration and how we can move forwards," Gatkuoth told Xinhua by phone in Juba.
In 2017, South Sudan hosted its first oil conference in an effort to energize the sector's infrastructure development. The November event is expected to woo investors to enter the market.
In September, South Sudan extended oil exploration and production agreements with PETRONAS, China National Petroleum Corporation (CNPC) and India's Oil and Natural Gas Corporation (ONGC) to continue pumping oil in the Unity state oil fields for six more years.
According to the World Bank, South Sudan is the most oil-dependent nation in the world, with oil accounting for almost the totality of exports, and around 60 percent of its gross domestic product (GDP).
Editor:Cherie
