The much-awaited bidding round for oil exploration in Uganda has been launched. The East African country finally announced the launch of the competitive bidding round for five oil exploration blocks. This is happening for the second time after the discovery of the hydrocarbon deposit in the country.
Irene Muloni, Uganda’s energy minister has openly invited exploration companies and investors to show interest in the blocks, especially at this point when crude oil is still at a relatively high price.
“The licensing round is expected to be concluded with the award of Petroleum Exploration Licenses to successful firms by December 2020,” she said in her statement.
Read more at: Reuters