Uganda to Announce Oil Blocks Licensing Round in May
(Reuters) — Uganda said on Friday it plans to announce a third oil licensing round in May in an effort to further develop a sector on track to produce its first oil in 2025.
Energy Minister Ruth Nankabirwa Ssentamu said in a statement detailing developments in the sector that the next licensing round would be announced at a regional petroleum conference due to take place in Uganda's capital Kampala in May.
She did not say how many blocks would be put up for auction.
The East African country discovered commercial hydrocarbon deposits near its western border with Democratic Republic of Congo in 2006. Production is projected to begin in 2025.
Uganda is also developing a crude export pipeline and a domestic crude refinery that will help to commercialize the country's oil resources.
RELATED: Uganda Approves Construction for 898-Mile Crude Pipeline Costing $3.5 Billion
A U.S. firm, Albertine Graben Energy Consortium Partners (AGEC), is planning to build and operate a $4.5 billion, 60,000 barrel-per-day refinery to produce a range of refined products and liquefied petroleum gas for the regional market.
It will also build a 213-km (130-mile) refined products pipeline from the oilfields to storage facilities near Kampala.
Ssentamu said a final investment decision on the refinery was expected this year.
She added the pipeline and refinery would be developed concurrently and "when both projects are operational, the refinery will have the first call on crude oil".
All of Uganda's existing oilfields are jointly owned by France's TotalEnergies, China's CNOOC and the state-run Uganda National Oil Company.
Related News
Related News
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- Another Major U.S. Oil Refinery Shutting Down as Lyondell Confirms Houston Closure
- Chevron CEO Wirth Under Fire as Hess Deal Delay Drags Down Stock Performance
Comments