Uganda to announce oil production licences Aug 30

August 29, 2016 in Business, Companies, Hydrocarbons by Editor

http://www.256businessnews.com/uganda-oil-firms-get-the-nod-to-production-licences/KAMPALA, AUGUST 29 – The Ministry of Energy and Mineral Development is set to issue the long awaited Petroleum Production Licenses to upstream operators Total and Tullow. A statement from the ministry confirms that an official announcement to that effect will be made on August 30, at 11:0 am.

The development sets the stage for a ramp-up in mid-stream investment that aims to bring the fields to production around the 2020 timeframe in tandem with completion of a crude export pipeline and 30,000 barrels per day oil refinery configured around the domestic and regional market.

Total E&P is expected to get production licences for Ngiri, Jobi-Rii and Gunya fields in exploration area 1. As part of the conditions for the licences, the companies are expected to reach a final investment decision within 18 months of receiving licences.

The development is likely to revive interest in Uganda’s oil and gas sector which had gone into recess on the back of delays in securing the green light to production.