Oil rig in Uganda. PHOTO/Tullow Oil
Uganda finally took the first baby steps towards oil production with the assigning of a production licence to the China National Offshore Oil Company, CNOOC.
Following the agreement announced by the east African nation's Ministry of Energy on Wednesday, Uganda now expects commercial extraction of its 1.8 billion barrel oil resource to begin in early 2018 from the King Fisher field.
The development is the culmination of 10 months of negotiations
No comments:
Post a Comment