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Uganda launched the drilling of its first oil well, in line with the country’s determination to meet its target of first oil output in 2025. The drilling that commenced near Lake Albert in Kikuube district was launched by President Yoweri Museveni by cutting the ribbon at a site operated by China National Offshore Oil Company (CNOOC). The estimate is that the well, when fully functional, would produce 40,000 barrels per day
Uganda launched the drilling of its first oil well, in line with the country’s determination to meet its target of first oil output in 2025. The drilling that commenced near Lake Albert in Kikuube district was launched by President Yoweri Museveni by cutting the ribbon at a site operated by China National Offshore Oil Company (CNOOC). The estimate is that the well, when fully functional, would produce 40,000 barrels per day.
Oil, which can be commercially mined, was discovered in Uganda some 17 years ago. France’s TotalEnergies , the operator of the second project, known as Tilenga, is expected to begin drilling in March. As reported by www.trendsnafrica.com, Uganda last week issued a licence for the construction of a US$3.5 billion pipeline set to carry crude oil from the country to international markets. The oil majors -TotalEnergies and China’s CNOOC signed a US$10-billion agreement to develop the Ugandan oilfields and build the pipeline. Uganda plans to produce about 230,000 barrels of crude oil per day when all the wells are fully functional.
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Its reserves are estimated at 6.5 billion barrels of crude, of which about 1.4 billion are considered recoverable.
