The Board of Directors of the Nile Petroleum Corporation (NILEPET), the National Oil and Gas Corporation of the Republic of South Sudan, officially convened its first session of the year on Saturday, May 23, 2026, under the chairmanship of Africano Mande and in the presence of key board members, including the Managing Director and CEO, Emmanuel Athiei Ayual, alongside other senior government officials.
A primary focus of the session was a comprehensive presentation by the NILEPET Cash Call Audit Committee regarding the corporation’s liabilities across its three Joint Operating Companies (JOCs)—DPOC, GPOC, and SPOC—which revealed that through strategic fiscal management, NILEPET has successfully shifted out of default status across all three entities by completely clearing all liabilities related to monthly operational expenditures (Cash Calls).
Capitalizing on the rise of global oil prices and increased production levels, the corporation successfully cleared USD $120,874,950.00 and USD $51,882,504.00 related to PETRONAS (PCNL) and NILEPET Participating Interests in DPOC, while also finalizing a structured plan to clear the remaining balance of historical Cash Calls for SPOC within May and June 2026.
In response, the Board expressed its strong appreciation for the leadership of Managing Director Emmanuel Athiei Ayual in establishing the Cash Call Audit Committee and issued a formal vote of thanks to the Committee for its rigorous, data-driven audit, which has restored financial credibility and empowered the corporation with solid data for future strategic planning.
With default statuses resolved, the Board instructed the Managing Director and CEO to pivot toward internal debt management and aggressively pursue institutional reforms, adopting five key resolutions to secure NILEPET’s long-term financial health and boost South Sudan’s wider economy: building robust cash reserves specifically allocated to seamlessly cover future monthly Cash Calls across all three JOCs; clearing all historical outstanding pipeline tariffs due to Petrolines for Crude Oil Company Ltd (PETCO) within the next two months; prioritizing a thorough financial reconciliation process between NILEPET.
The Ministry of Finance, and relevant stakeholders to clarify outstanding dues, optimize governance, and streamline strategic sector planning; partnering with the Ministry of Petroleum and international stakeholders to onboard a new strategic investor targeting refinery operations and a crude oil evacuation pipeline connecting Tharjath to Paloch to scale Tharjath’s production from an average of 13,000 barrels per day (bpd) to a target of 80,000 bpd; and committing to substantial investments in modern technology and production upgrades across the oil sector to drive operational efficiency and stimulate national economic growth. Ultimately, the Board of Directors reaffirmed its unwavering commitment to driving deep institutional reforms, enhancing corporate transparency, and fostering sustainable development across South Sudan’s energy landscape.
