News listings
Bayphase Oct 2017

energy-pedia licensing

Nigeria flagNigeria

Middle East / Africa >>> Nigeria

Uganda to finalise oil exploration deal with Nigeria's Oranto Petroleum


14 Jun 2017

Photo - see caption

Uganda is set to sign on Thursday two oil production sharing agreements with a Nigerian firm, enabling the company to begin exploration work, the government said on Wednesday. The firm, Oranto Petroleum International, was among a number of companies that bid in the country's first competitive oil exploration licensing round last year, with two other Nigerian firms and Australia's Armour Energy also getting through to final negotiations for the award of the PSAs.

The ministry of energy and mineral development said the deal with Oranto covers the Ngassa Shallow Play and Ngassa Deep Play exploration blocks located near the southern part of Lake Albert.

Uganda discovered oil in 2006 in the Albertine rift basin along its border with the Democratic Republic of Congo. Gross crude reserves are estimated by government geologists at 6.5 billion barrels of which between 1.4 to 1.7 billion barrels are considered recoverable. Production is expected to start in 2020.

The first batch of licences that Uganda awarded in the early 2000s were granted on a first-come, first-served basis.

But after the discovery of commercially recoverable reserves the country enacted new laws to manage the sector and under those laws exploration licences must be granted on a competitive basis.

Original article link

Source: Reuters





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Publicly Available Deals

See all deals...

Subscriber Only Deals

Current deals: 1658
Completed deals: 4717

Company Profiles

Current Company Profiles: 2531

Corporate Activity

Current Corporate Activity articles: 2961

Companies Looking

Current number of articles: 417

Company Sales

Current Company Sales articles:1189

Geostudies

Current Geostudies articles: 530

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Government of South Australia
Union Jack Oil 149
Lynx Information Systems
count geophysics
SLR Consulting logo
RSK Logo 149
EP Consult Energies
OPC
Bayphase
KL Publishing
Rose & Assocs 149
energy365
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com