Petroleum Africa
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Friday, September 27, 2013
Chinese explorer CNOOC was finally awarded the final production license for Uganda’s Kingfisher oil field. The company will spend $2 billion over the next four years in developing the oilfield’s resources.
Uganda is aiming on full commercial production from the field by 2016.
The Kingfisher field, with an estimated 635 million barrels of reserves of which 196 million are recoverable, would produce between 30,000 to 40,000 bpdof crude, Uganda’s junior energy minister Peter Lokeris said, according to a Reuters report.
Under the development plans an estimated 40 development wells will be drilled, 27 of which will be producers and 13 will be injection wells.
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