Gulf Oil and Gas accountACCOUNT

Uganda to Sign Exploration Deals in June & Selects Firms for Refinery Talks

Source: Reuters 5/17/2017, Location: Africa

Share |
Uganda's energy ministry said it would award three exploration licences next month and also said it had selected two firms with whom it would start negotiations for a possible agreement to develop a planned crude refinery. Last August Uganda selected Nigerian firms WalterSmithPetroman Oil Limited, Oranto Petroleum International, Niger Delta Petroleum Resources and Australia's Armour Energy Limited as winners for its latest licensing round. The four companies were then invited to start negotiations for five production sharing agreements (PSAs) covering four blocks.

Energy Minister Irene Muloni said in an emailed statement laying out the ministry's performance over the last 12 months that they would issue three licences next month. "Three exploration licenses are due to be issued in June 2017," she said, without naming the firms that deals would be signed with.

Crude oil reserves estimated by government geologists at 6.5 billion barrels were discovered in the Albertine rift basin along Uganda's border with Democratic Republic of Congo (DRC) in 2006. But taxation spats, disagreements over field development strategies and delays in erecting infrastructure such as an export pipeline have repeatedly pushed forward the date for commencement of production.

Uganda is now looking to start production in 2020 when construction of an export pipeline through neighbouring Tanzania is due to be completed.

Uganda has also been pursuing a tender for developing a $2.5 billion refinery to process part of the crude from its oil fields. "Two companies have been selected for negotiations. The target is to complete the process this year, 2017," Muloni said, without disclosing the names of those picked. An initial process to get a developer for the refinery project was halted in July last year after the government suspended talks with a consortium led by Russia's RT-Global Resources which had won an initial tender. Subsequent negotiations with a consortium led by South Korea's SK Engineering also collapsed.

Muloni also said Uganda was considering terminating a contract with a Chinese led consortium, which was given a concession to revive copper mining at Kilembe in the country's west in 2013. The firm, Tibet Hima Mining Company Limited, "has so far not performed as agreed and government is reviewing the Contract, with a consideration of terminating the concession."

Exploration News in Uganda >>

Algeria >>  4/17/2018 - The Chairman and General Manager of the Algerian state company SONATRACH, Abdelmoumem Ould Kaddour, and the Chief Executive Officer of Eni, Claudio De...
Australia >>  4/17/2018 - Santos welcomes the Northern Territory Government’s decision to implement the prerequisite conditions for recommencement of onshore gas exploration by...

Egypt >>  4/17/2018 - Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt’s Mediterranean coast, Executive Vice President Sami Iskander t...
Australia >>  4/16/2018 - Cooper Basin focused oil & gas exploration company Real Energy has advised that Tamarama-2 well spudded at 3.00 pm Friday 13 April 2018. The well was ...

Argentina >>  4/13/2018 - Echo Energy plc, the Latin American focused upstream oil and gas company, is delighted to announce gas to surface on the first well of our three well ...
Norway >>  4/13/2018 - Wellesley is the operator for production licence 925 in the North Sea. We have now given the company consent to drill exploration well 35/12-6 S, for ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Uganda Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Uganda >>

More News

 

Oil & Gas Companies in Uganda >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.