THIS WEEK: Australian firm to explore Kanywataba oil block

THIS WEEK: Australian firm to explore Kanywataba oil block

Kampala, Uganda | THE INDEPENDENT |Ending a competitive licensing process that opened in February 2015, the Ministry of Energy and Mineral Development on Sept.14 signed an oil exploration agreement with an Australian firm, Armour Energy Limited (AEL).  The company whose license covers a period of four years  competed with two others in the last round will be responsible for exploration of Kanywataba oil exploration block in the Albertine  Graben , in Ntoroko district in south western Uganda.

While speaking at the signing ceremony, Energy Minister Irene Muloni who said government had also signed a production sharing agreement with the firm added that there have been protracted negotiations due to the sustained low oil prices.

Ag.  Permanent Secretary in the Ministry Robert Kasande said one of the major achievements from this licensing round was the development of a state of the art data room which is open to the industry to buy data and that it will be used for future licensing rounds.

AEL joins China National Offshore Oil Corporation, Total and Tullow Oil in exploring for oil in Uganda.

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