UIOGS 2019 to explore Petroleum Exploration, Development and Production Prospect in Uganda

By ogrepublic Last updated Aug 19, 2019

5th Uganda International Oil & Gas Summit (UIOGS) — Uganda 2nd Licensing Round

By Ndubuisi Micheal Obineme

Due to global interest, demand in the region and in the interest to expand on the considerable oil reserves already in place (6 billion barrels); Uganda has officially announced its 2nd licensing round in 2019 to cover 5 blocks in the highly prospective Albertine Graben.

The 2nd licensing round has been made at an important time for Uganda and the region as the country has moved steadily towards first oil and much of the all-important infrastructure is well underway including the EACOP pipeline and the refinery.

Uganda is an attractive investment opportunity combining high-success rates of oil discovery, with a liberalized economy open to international investment and supported by a stable government with a peaceful population.

Following the announcement of the licensing round in May 2019, prospective bidders are expected to submit their applications prior to the end of September 2019 http://www.petroleum.go.ug.

Licenses will be granted to the successful parties later in 2020. The Ministry has developed excellent technical data in support of the licensing round.

MINISTER OF ENERGY AND MINERAL DEVELOPMENT, Eng Irene Muloni (MP), commented: “We invite all interested parties to attend our annual conference the 5th Uganda International Oil & Gas Summit (UIOGS) which takes place at the Kampala Serena hotel, 25-26 September 2019.”