Uganda oil firms get the nod to production licences

August 4, 2016 in Business, Companies, Energy, Hydrocarbons by Editor

KAMPALA, AUGUST4 – Uganda is moving to fast-track oil production with the cabinet approving four production licenses.

Expected to be officially announced in the coming weeks, the licences for Total E&P Oil now set the stage for a ramp-up in mid-stream investment that is expected to bring the fields to production by 2020 at the earliest.

Total E&P’s licences are for exploration area for the Ngiri, Jobi-Rii and Gunya in exploration block 1. The companies are expected to reach a final investment decision within 18 months of receiving licences.

The licences which come against a backdrop of sluggish growth come close on the heels of cabinet giving the green-light this week, to negotiations for new exploration licenses with three Nigerian and one Australian firm.