400Kgh Sesame Small Coconut Oil Production Line in Uganda

When will oil production start in Uganda?
Production is due to start in 2025. As part of the production sharing agreement, the production licences are valid for 25 years upon extracting the first oil. To secure the best possible outcome for Uganda, the government needs to focus on three issues: the production sharing agreement, completion of the development stage, and export timing.
How much oil does Uganda produce a year?
The annual revenues from oil production are expected to be US$1.5 billion to US$2 billion. The oil revenues have the potential to stimulate Uganda’s economic growth and real household incomes. But, like many resource-rich sub-Saharan countries, Uganda has limited capacity to solely finance and operate immense complex oil projects.
Why is it important that Uganda’s oil gets to the global market?
It is important that Uganda’s oil gets to the global market at profitable terms. The slump in oil prices between 2014 and 2016 resulted in the foreign companies drastically trimming their local workforce and cutting their investment budgets by 20% to 30%.
Who owns the oil in Uganda?
Uganda entered into agreements in 2012 with two foreign oil entities to exploit its oil resources. Total Energies holds 56.67% of the joint venture partnership and China National Oil Offshore Company (CNOOC) has 28.33%. Through Uganda National Oil Company, the government owns the remaining 15%. Production is due to start in 2025.