South Sudan hopes to settle border and oil issues with Sudan

South Sudan hopes to finally reach an agreement on Tuesday with Sudan on outstanding major issues including border reopening, oil and power generation in the signed cooperation agreement between the two countries.

South Sudanese Minister of Petroleum Ezekiel Lol Gatkuoth said on Monday that they will negotiate for extension of the signed 2012 cooperation agreement in the Sudanese capital of Khartoum and resumption of oil production.

"We are all empowered to negotiate the extension of the cooperation agreement and the oil industry as a whole. We have to discuss and reach agreement with our brothers and sisters in Sudan," Gatkuoth said in Juba.

Sudanese President Omar Bashir had earlier issued December ultimatum for South Sudan to implement the cooperation agreement.

Gatkuoth urged for strong joint cooperation between the two neighboring countries.

South Sudan relies on oil production to finance 98 percent of its fiscal budget and yet more than three years of conflict has affected production in its northern oil fields.

Oil production has since 2014 reduced from 350,000 barrels a day to less than 130,000 bpd amid fall in global oil prices hitting hard the economy of the war-torn nation.

source: Xinhua