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Talisman may retain oil project as critics voice skepticism over Sudan peace deal
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Talisman Energy says it may continue to hold its interest in Sudan after the interim peace agreement between the Sudanese government and the Sudan Peoples' Liberation Army (SPLA). However, critics are urging caution that the peace deal may not prove to be a lasting one. Talisman CEO James Buckee told analysts and reporters in a conference call July 31 that the company is leaving open the option to retain its interest in its controversial oil project in Sudan. "We are watching events very closely and will pursue the option that creates the greatest value for our shareholders," he said. Buckee was referring to an agreement reached July 23, known as the Machakos peace accord. He said the agreement has increased the value of the company's oil project in Sudan. "This is very significant and has clearly enhanced the value of this asset," he said. The agreement includes a tentative deal on on two of the most contentious issues that have faced negotiators working in Sudan: the right to self-determination for the south, and the relationship between state and religion. A referendum on self-determination for the south is planned after a six-year interim period, and the southern states have secured exemption from the imposition of Sharia'ah (Islamic) law. However, while Talisman hailed the deal, some observers doubted whether the deal will lead to a lasting peace in Sudan. In an interview with Radio Netherlands, Peter Verney, editor of the Sudan Update journal, said the peace deal was achieved under heavy foreign pressure. He doubts the sincerity of the parties to reach a final agreement. "It all arrived rather quickly. Many observers on Friday were saying that the peace talks were collapsing, and then came this sudden news, so there is some suspicion that it's based largely on the massive external pressure put on the two sides." Verney also said there are doubts about whether the south can be granted true independence "Many southern Sudanese have already said any deal that doesn't properly guarantee them independence at the end of this process is going to lose, and that southern Sudanese would then turn against the leadership of the SPLA." Verney said another point of contention is the sharing of oil revenues between north and south. "It is very unlikely that this government is going to reach some sort of revenue-sharing agreement with the south, it hasn't been willing to do that so far. In fact, it looks like it's already spent oil revenues in advance for the next few years on improving its military capacity." Verney
pointed out that a similar offer - referendum and self-determination
– was made to an SPLA splinter group in the 1990s, but did not
become reality.
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