Will Uganda reach its first oil production target in 2025?
KAMPALA, Jan 24 (Reuters) – Uganda on Tuesday commissioned the first of its four planned oil rigs and the start of drilling the first production well, a key milestone as the country races to meet its target of first oil output in 2025 after a long delay.
When will oil drilling start in Uganda?
KAMPALA, Uganda (AP) — Oil drilling has begun in a Chinese-operated field in Uganda and the East African country expects to start production by 2025, an official said Tuesday.
Who owns Uganda’s oilfields?
Fair. Uganda’s second project area, Tilenga, located north of Lake Albert astride River Nile, is operated by France’s TotalEnergies. CNOOC and TotalEnergies co-own all of Uganda’s existing oilfields alongside the state-run Uganda National Oil Company (UNOC). At peak, Uganda plans to produce about 230,000 barrels of crude oil per day.
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.
What’s going on with Uganda’s oil pipeline project?
The project will cover the development of oil fields, processing facilities and a pipeline network in Uganda, plus an export pipeline through Tanzania to carry landlocked Uganda’s crude to a port on the Indian Ocean.
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.