M a r k e t N e w s

Uganda Oil Levels Rise By 3 Billion Barrels

Posted on : Tuesday , 2nd September 2014

 Kampala — Uganda's oil and gas resource deposits have risen from 3.5 billion barrels to 6.5 billion barrels writes BAZ WAISWA.

 
The Commissioner for Petroleum Exploration and Production Department in the Ministry of Energy and Mineral Development, Ernest Rubondo, disclosed this last week.
 
However he clarified there has been a very small increase in the amount of recoverable oil from 1.2 billion barrels (of the 3.5 billion barrels of crude) to 1.4 billion barrels.
 
"Information captured during the appraisal period gives you an idea of what to expect. What we need now is to think of things like technology to recover the 6.5 billion barrels of crude," Rubondo said.
 
With the right technology and investment, Uganda can increase the amount of recoverable oil from the relatively paltry 1.4 billion barrels.
 
He said this time they are using data from the field during the period of appraisal to reach at the figures which are more accurate unlike in the past when they were being speculative.
 
The Commissioner was speaking during the LéO Africa Forum Oil Conference 2014 on oil resource management under the theme 'Making Oil work for Africa'.
 
He said Uganda's oil potential is large enough to last more than 30 years.
 
He expressed confidence of more discoveries due to the ongoing exploration activities in most parts of the Albertine (western Uganda) and northern parts of the country which are expected to give positive results.
 
Uganda has hit 21 oil and gas discoveries mostly in the albertine graben and is headed for production after government early this year issued one production licence to CNOOC.
 
Tullow Oil is also expected to get their license soon.
 
Energy officials said more production licences are in advanced stages of review and will be issued before this year comes to an end. "Once licensees are issued, companies will develop the fields and you will have a beehive of activities." Rubondo said.

Source : allafrica.com
Featured Companies
  • GULF WELL SOLUTIONS
  • SKYTRADE GLOBAL ENTERPRISES LTD
  • /
  • MAVI DENIZ CEVRE HIZ A.S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  •  EuropCorr is a company specialized in design, manufacturing, sales and consultancy of corrosion monitoring systems mainly for petrochemical, oil and gas industry.
  •  TITAN Containers is one of the largest privately owned companies supplying containers for a multitude of applications.
  • Air Conditioning Hire
  • All type conveyor belts for internal & external location tapis roulant de tout genre pous deplacement a l
  • Industrial  machinery
  • Manufacturers & Exporters of hand tools, garden tools & leatheer tool pouches.
  • Seco actively contributes to improving your productivity and competitiveness in metal cutting machining.
  • Save your power bill by instaling servo voltage stabilizer.
  • Used Machinery
  • Manufacturer of heavy duty machinery
  • ISISAN is a core member of a group who employs, approx 2000 people and active in pipe manufacturing, furniture, machine made carpets, flour mill and animal feed production.
  • Bakery Equipment, Flour Mill, Bread Improver, Dried Fruit Processing machine
  • Catering for the most varied industrial storage requirements.
  • Automatic brick manufacturing machines
  • A world class Rotary Gear Pumps for effective pumping and trasfer of all viscous & semi-viscous liquid like oils, chemicals, food products and more..
  •  Ugur Seluloz Kimya A.S. is a leading Sodium Carboxymethyl Cellulose & Polyanionic Cellulose manufacturer, located in Turkey.
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Pumps for dewatering, ground water control, sludge and slurry handling.
  • VEGA Grieshaber KG is a world-leading supplier of level, switching and pressure instrumentation.
  • Ravi Enterprise is a professionally managed organization, established as a reliable source of industrial heaters.
  • Ducorr is engaged in the engineering, manufacture & deployment of cathodic protection systems and products.
  • Manufacturing and marketing "aira" brand Valve Automation Products
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • From a modest beginning in 1955, the IGP Group today provides over 50 products and services to the core sector.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2025 Afrotrade