UK-based Wildcat Petroleum announced that it has passed a due diligence process required by the South Sudanese Ministry of Petroleum (MOP) to undertake any petroleum deal in the country
The process included the evaluation of the company’s technical competency as well as its financial capability to complete a major oil production purchase. This clearance is required from the MOP before Wildcat can undertake any petroleum deal in the country including the purchase of large scale oil production.
A number of investors, including The Waterford Group, have provided financial backing for the potential purchase of any production in South Sudan.
Wildcat Petroleum plc (LON:WCAT) was incorporated in early 2020, with plans to work and invest in the upstream sector of the petroleum industry – namely exploration, appraisal, development and production of oil and gas.