Market Size of South Sudan Oil and Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Sudan Oil and Gas Market Analysis
The South Sudan oil and gas market is expected to grow at a CAGR of more than 5% during the forecast period. The outbreak of COVID-19 has had negatively impacted the market as the lockdown imposed by the government had influenced the market. Also, the spread of COVID-19 had affected the country's oil production in 2020. For instance, in July 2020, the Ministry of petroleum in South Sudan informed that the country's oil production has dropped by 20,000 barrels per day (b/d) to 170,000 b/d because of the impact of surging coronavirus cases, which has led to disruptions in operations at oil fields. Increasing the production of oil and rising investments into the oil and gas sector are expected to drive the market in the forecast period. However, instability caused by the civil war in the country, along with the high volatility of oil prices, is expected to restraint the market.
- The downstream sector is expected to increase significantly during the forecast period as increase in the country's oil and gas infrastructure will support the refining market of the country. Also, as being separated from the Sudan, where most of the refineries were situated, it has become one of the government's major initiatives to build a refinery in the country.
- There have been signs of ending the civil war. The civil war was ravaging the country. Peace in the country may lead to much higher growth and may act as an opportunity for the market players,
- Increasing oil production is expected to be the most significant driver of the market in the forecast period as the country depends heavily on the sale of oil and gas for most of its exports to other countries.
