1857: NilePet to take charge of Paloch oil fields by 2027

<div>Government oil and gas commercial agency, Nile Petroleum corporation- NilePet says it will take charge of some oil fields by 2027 when the contracts of the current foreign investors come to an end.<br> <br> </div> <div>NilePet Managing Director Dr. Chol Deng says the planed take over will first start with oil fields in Paloch in Upper Nile State.<br> <br> </div> <div>He says it is the mandate of the corporation to nationalize the oil exploration.<br> <br> </div> <div>Currently the country’s oilfields are run by foreign investors.<br> <br> </div> <div>Meanwhile, Dr. Chol Deng says there has been a decline in oil production in the country partly due to floods in oil fields.<br> <br> </div> <div>He says currently the country produces over 140 thousand barrels per day, from a previous high of between 250 to 300 barrels of oil a day.<br> <br> </div>