Wildcat Petroleum, a London-listed oil company, has announced that it will sign a service agreement with the Sudanese government to boost oil production at its Bamboo oil field. This decision comes as a result of the inability to sign a production sharing agreement due to political unrest in the region.
Currently, the Bamboo oil field produces approximately 4,000 oil barrels per day, with a previous peak of 20,000 barrels. With the new service agreement, Wildcat aims to achieve an initial increase in production within a year and ultimately reach a target of 10,000 barrels within three to five years. As part of the agreement, the field will be renamed the Wildcat oil field.
Mandhir Singh, Chairman of Wildcat Petroleum, emphasizes that this arrangement showcases the positive relationship between the company and the Sudanese government. Given the current political situation in Sudan, signing the service agreement is seen as a practical solution.
This development highlights Wildcat Petroleum’s commitment to expanding its operations and optimizing oil production in Sudan.