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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Uganda Commissioner for Petroleum Exploration and Production Ernest Rubondo has reported that the country has increased its estimated oil and gas resource deposits to 6.5 billion barrels from 3.5 billion barrels.
But he qualified the size of increase by saying that the estimated amount of recoverable oil only increased to 1.4 billion barrels from 1.2 billion barrels.
"Information captured during the appraisal period gives you an idea of what to expect. What we need now is to think of things like technology to recover the 6.5 billion barrels of crude," said Rubondo. He added that unlike past speculative estimates, the new estimates used more accurate field data.
Uganda's oil potential is large enough to last more than 30 years. Rubondo expressed confidence of more discoveries due to the ongoing exploration in most parts of the Albertine (Lake Albert/western Uganda region) and northern parts of the country, which are expected to give positive results.
Uganda has made 21 oil and gas discoveries, mostly in the Albertine region, and is headed for production following the issue of a production license to China's CNOOC (Beijing) earlier this year. A license for Tullow Oil (London, England) is said to be imminent.
Energy officials said that production licenses are in advanced stages of review and will be issued before the end of the year. Once licenses are issued, companies will develop the fields "and you will have a beehive of activities," said Rubondo.
For related information see May 12, 2014, article--East Africa Could Take Leading Role in Oil and Gas Infrastructure Development.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
But he qualified the size of increase by saying that the estimated amount of recoverable oil only increased to 1.4 billion barrels from 1.2 billion barrels.
"Information captured during the appraisal period gives you an idea of what to expect. What we need now is to think of things like technology to recover the 6.5 billion barrels of crude," said Rubondo. He added that unlike past speculative estimates, the new estimates used more accurate field data.
Uganda's oil potential is large enough to last more than 30 years. Rubondo expressed confidence of more discoveries due to the ongoing exploration in most parts of the Albertine (Lake Albert/western Uganda region) and northern parts of the country, which are expected to give positive results.
Uganda has made 21 oil and gas discoveries, mostly in the Albertine region, and is headed for production following the issue of a production license to China's CNOOC (Beijing) earlier this year. A license for Tullow Oil (London, England) is said to be imminent.
Energy officials said that production licenses are in advanced stages of review and will be issued before the end of the year. Once licenses are issued, companies will develop the fields "and you will have a beehive of activities," said Rubondo.
For related information see May 12, 2014, article--East Africa Could Take Leading Role in Oil and Gas Infrastructure Development.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
