Petroleum Africa
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Thursday, December 6, 2018
Uganda’s State Minister for Energy and Mineral Development, Peter Lokeris, told attendees at an industry event in South Sudan near the end of November that his country was an attractive destination for oil investments.
Uganda will open the second bidding round for exploration licenses in May 2019, for which licenses will be issued by 2020.
The exercise will be Uganda’s second competitive bidding round since the new petroleum law introduced transparency in the licensing of new players.
Lokeris touted the success that has been seen in the country already, highlighting that out of the 121 wells drilled to date, 106 of them had hydrocarbons. Despite the number of wells drilled, the majority of the Albertine Graben has seen no exploration.
“Uganda will open the second bidding round for exploration licenses in May 2019, for which licenses will be issued by 2020,” Lokeris told the participants at the second South Sudan Oil and Power Conference. The government has been processing data on the blocks that are to be put up for auction. The data will be made available for interested firms.
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