Sudan, S.Sudan agrees on the rich oil region

Adapted from CNN

The presidents of the two Sudans concluded talks Sunday aimed at addressing outstanding economic, oil and security issues after tensions between the two nations nearly led to a return to war.

Talks between Sudanese President Omar al-Bashir and his South Sudan counterpart Salva Kiir concluded in the Ethiopian capital of Addis Ababa, where the two agreed to temporary arrangements over a disputed oil-rich region claimed by both countries.

The agreement called for the creation of temporary administrative and security arrangements for the Abyei region, including the creation of a police service and a limited governing council.

Al-Bashir and Kiir agreed to reconvene another summit to discuss the final disposition of the disputed region.

South Sudan split from Sudan in 2011 as part of a peace deal that ended decades of war between the two sides. The war left nearly 2 million people dead.

Soon after the split, tensions between the old foes escalated over outstanding issues, coming close to all-out war in April.

South Sudan shut off its oil supply last year, accusing Sudan of stealing oil revenue. The South got about 70% of the formerly united country's reserves when it became independent last year.

Both countries have seen hyperinflation and a squeeze on incoming foreign currency as a result of the shutdown.