Uganda to license another oil block to Neptune Petroleum

Sep 27, 2005 02:00 AM

The Ugandan Government will sign a production sharing agreement (PSA) with Neptune Petroleum for petroleum exploration and development on Exploration Area 5. Negotiations with Neptune, a UK company, have been going on since late last year.
The granting of the licence means Uganda is left with one unlicensed exploration area, after Heritage Oil was granted licences for Exploration of Areas 1 and 3, while Hardman Resources was licensed in Area 2 on Lake Albert.

Exploration Area 5, found in the Rhino Camp forms the northern most part of the Albertine Graven, bordering southern Sudan.
"Just like with previous PSAs, the company is expected to pay annual surface rentals, annual training fees, train and employ qualified Ugandans, carry out an environment impact assessment before commencing operations, and provide an insurance bond to guarantee its activities in Uganda," a ministry of energy official said. The exploration block covers 640 sq km and covers parts of Arua, Moyo, Adjumani, Gulu and Terego.

Meanwhile, work on Block 2 is proceeding according to plan.
"Hardman Resources is working on the road to Kaisitonya for easy movement of the drilling equipment for the planned operations. The company is expected to confirm drilling in the very near future," the source said.
In the Semliki, Heritage Oil and Gas has completed seismic data collection on the lake, part of the land and the transitional area. The results are being interpreted to define the drilling locations.

"This is also expected to be known before the end of the year. Heritage has also finished the carbon dioxide survey to minimise risks of drilling in the carbon dioxide contaminated areas.”
“Having found carbon dioxide, Heritage is being careful where to drill," said the source.

Source: New Vision
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