Uganda discovered 6.5 billion worth of hydrocarbon deposits in the Albertine rift basin about 12 years ago but production has been repeatedly delayed by a disagreement with oil companies over tax disputes. The country will be offering oil exploration deal for the second time under open bidding, as a result of the success recorded from the first bidding.

According to Ms Irene Muloni, Uganda’s Minister of Energy and Mineral Development, seven new exploration blocks will be open for bidding during the second week of May.

Read more at All Africa

Comments

Elsewhere on Ventures

Triangle arrow