Government announces new oil exploration zones
The government has once again announced new oil prospects in two regions of the country. State Minister for Energy Okasai Opolot says preliminary exploration studies are being conducted in the Moroto-Kadam and Hoima basins, and he has also invited interested investors to participate.
Uganda’s known commercial quantities of crude oil are located in the Albertine Graben basin, where production is expected to start in the near future. The basin holds the Tilenga and Kingfisher oil fields, which are estimated to contain 6.5 billion barrels of oil reserves, of which 1.4 billion are recoverable.
