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Petronas Wins Permit For Block 5B in Sudan

01-25-2008

Petronas has been awarded permit from the government of south Sudan to begin oil exploration on Block 5B after agreeing to let Moldova's Ascom Group keep part of the concession, an official said.

"Petronas from tomorrow will move into the location 5B," the south's Minister for Industry & Mining John Luk said. He is also a member of Sudan's National Petroleum Commission (NPC), the country's top decision-making body on oil matters.

Following a 2005 peace deal, the NPC mediated the conflicts of interest and in July last year agreed Petronas could keep its share in Block 5B provided it allowed Ascom, already working in the area, a share in the venture.