South Sudan will begin pumping oil on March 24, under an agreement signed Tuesday by Sudan and South Sudan that will restart the countries’ oil export industry.
The deal was sealed in Ethiopia’s capital, Addis Ababa. Oil exports were halted in January 2012 following a dispute over transit fees that has crippled the economies of both nations.
Most of the oil fields are located in South Sudan, but the pipelines that transport the oil out of the landlocked nation run through Sudan.
Oil provided 98 percent of South Sudan’s revenue and 95 percent of Sudan’s.
South Sudan seceded from Sudan and became an independent nation on July 9, 2011.
Lingering disputes have plagued the African neighbors.
Sudan and South Sudan also agreed to withdraw troops from their border area and establish a demilitarized border zone.
• Ashish Kumar Sen can be reached at asen@washingtontimes.com.
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