Minister of Finance and Planning Dier Tong Ngor. | Photo: Courtesy

The Minister of Finance and Planning has disclosed that the projected oil production for this fiscal year has dropped from 150,000 to 132,362 barrels per day due to the depletion of some oil wells.

The decline is from 150,000 barrels in the previous fiscal year.

Tong attributed the daily reduction of 17,638 barrels to the depletion of some oil wells and the adverse effects of floods in the past two years.

He spoke during the tabling of the annual budget at the parliament in Juba on Monday, June 20, 2023.

“The total oil production is projected at 132,362 barrels per day in FY 2023/2024, down from 150,000 barrels per day in the Fiscal Year 2022/2203,” Tong said.

“The projected reduction of 17,638 barrels per day in oil production is due to the depletion of some oil wells as well as the effects of floods experienced from 2021 to 2022,” he said. “Government profit share in the oil production is forty-four per cent.”