The Government of Uganda announces it's first open competitive licensing round for petroleum exploration

May 07, 2015 12:00 AM

The Government of Uganda (GoU) announced the country’s first open competitive licensing round for petroleum exploration.

This licensing round will cover six blocks in the Albertine Graben, which is a proven prospective sedimentary basin.

Eng. Irene Muloni, Minister of Energy and Mineral Development said, 'We have an estimated 6.5 billion barrels of in place petroleum resources from exploration work in less than 40% in the Albertine Graben. However, less than 10% of the Albertine Graben is currently licensed and the six blocks targeted for this maiden licensing round have good data coverage.'

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