2B is an oil concession block, located in the south of Sudan (South Kordofan State) with a total area of 368.879 km2.
Historically, block 2B had been considered as a development Block under the umbrella of Greater Nile Petroleum Operating Company (GNPOC) which was governed by an Exploration Production Sharing Agreement (EPSA) that had been concluded between the Government of Sudan (GoS) and investment Partners ( CNPC, ONGC & Sudapet). As per EPSA, the concession of block 2B had expired on 29th Nov. 2016, and was handed over to GoS since then.
Currently, Block 2B is governed by a new EPSA which is effective since 30th Nov 2016. This agreement was signed between the GoS, as one side, and participating parties; Sudapet and PETCO as the other side. Participating interest of each party is 50%.
2B Operating Company was formed to manage block 2B operation and to increase production and Recovery Factor (RF) through implementing state-of-the-art technology of Enhanced Oil Recovery (EOR) and other Exploration & Production (E&P) activities.
The duration of the agreement is 20 years and may be renewed for additional 5 years subject to approval of Minister of Petroleum & Gas. Now, the agreement is under First Exploration Commitment period of 4 years and will be followed by a Second Exploration Commitment period for 2 years.
