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Uganda Appoints Panel for Oil Development
Date: Monday, July 9, 2012
A panel to oversee the development of the Lake Albertine rift basin, where Tullow Oil and its former partner Heritage Oil discovered so much oil, has been appointed by the Ugandan government. The appointment will allow for the development of the basin to finally move forward at a more expedient pace.
The names of the panel members have not as yet been disclosed.
The set up of the panel follows talks between Ugandan president, Yoweri Museveni, and the three oil companies working in the area: Tullow, Total, and CNOOC. The meeting addressed a number of issues, including outlining the operating vision for the basin wide development.
Oil production from the basin, estimated at more than 200,000 bpd, is expected approximately 36 months after the development plan has been approved.
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