Wall Street Journal<\/a> saying that the new figures follow the appraisal of oil blocks held by Tullow oil, Cnooc limted and Total S.A.<\/p>\n“The increase in resources is an achievement given that with improved technology, the recoverable resources have potential to increase. It is also important to note that the current discovered resources can last 20-30 years.” WSJ quotes Ernest Rubondo.<\/p>\n
The new figures would make Uganda the fifth largest oil reserver in the continent behind Libya 46.4 bbl, Nigeria 37.2bbl, Algeria 12.2 bbl and Angola 9.5bbl would make the lightly explored East African region highly attractive.<\/p>\n
[twitter-follow screen_name=’oilnewskenya’]<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
[twitter-follow screen_name=’oilnewskenya’] Uganda\u2019s petroleum exploration and production department has put its estimated crude oil reserves at 6.5 billion barrels from the previous 3.5 billion barrels. The department is quoted by … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[116,476,2010,3579,2533,2571,2603],"class_list":["post-1699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-albertine-basin","tag-cnooc","tag-petroleum-exploration-and-production-department","tag-reserves","tag-total","tag-tullow-oil","tag-uganda","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/uganda_3.jpg?fit=280%2C260&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-rp","jetpack-related-posts":[{"id":1811,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cnooc-begins-pre-production-well-drilling-in-uganda\/","url_meta":{"origin":1699,"position":0},"title":"CNOOC begins pre-production well drilling in Uganda","author":"Samuel Kamau Mbote","date":"September 23, 2014","format":false,"excerpt":"The China National Offshore Oil Corporation (CNOOC) has begun drilling of Kingfisher 4 pre-production well in Hoima district as the company prepares for commercial production in Uganda. The drilling of the well is expected to better offer a clearer picture on the oil reserves in the Albertine region as the\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/kingfisher-uganda.jpg?fit=451%2C413&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1025,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tullow-oil-loses-ugandas-ngassa-oil-field\/","url_meta":{"origin":1699,"position":1},"title":"Tullow Oil loses Uganda’s Ngassa oil field","author":"Samuel Kamau Mbote","date":"May 14, 2014","format":false,"excerpt":"The Ugandan government has repossessed the Ngassa oilfield from British explorer Tullow Oil after the company failed to keep up with the appraisal schedule and the East African country failed to renew the license. The British company which has drilled two wells in the field which showed hydrocarbon deposits has\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5099,"url":"https:\/\/www.oilnewskenya.com\/index.php\/uganda-issues-8-production-licences-to-tullow-and-total-ep\/","url_meta":{"origin":1699,"position":2},"title":"Uganda Issues 8 production licences to Tullow and Total E&P","author":"","date":"August 30, 2016","format":false,"excerpt":"Uganda\u2019s minister for energy and minerals Eng Irene Muloni, has issued 8 production licences to Tullow and Total E&P. Muloni re-echoed the need to fast track the production which she says is expected to start by 2020. Speaking during the signing of the addendum to existing Production Sharing Agreements for\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/08\/Irene-Muloni.jpg?fit=960%2C540&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/08\/Irene-Muloni.jpg?fit=960%2C540&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/08\/Irene-Muloni.jpg?fit=960%2C540&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/08\/Irene-Muloni.jpg?fit=960%2C540&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":420,"url":"https:\/\/www.oilnewskenya.com\/index.php\/uganda-announces-deal-with-foreign-oil-companies\/","url_meta":{"origin":1699,"position":3},"title":"Uganda Announces Deal With Foreign Oil Companies","author":"Samuel Kamau Mbote","date":"January 31, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Story by CommodityHQ The government of Uganda is ready to develop its oil sector, but says it prefers to ramp up production slowly. n recent years, investors have witnessed the US becoming a dominant force in the crude oil space, thanks in part to a development in technologies\u2026","rel":"","context":"In "News by others"","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/uganda_3.jpg?fit=280%2C260&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8440,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ugandas-second-licensing-round-joining-africas-next-oil-gas-frontier\/","url_meta":{"origin":1699,"position":4},"title":"Uganda\u2019s Second Licensing Round: Joining Africa\u2019s Next Oil & Gas Frontier","author":"","date":"June 26, 2020","format":false,"excerpt":"Among the few ongoing licensing rounds on the continent this year is Uganda\u2019s Second Licensing Round, announced by the Ministry of Energy and Mineral Resources last year. The deadline for submitting the application for qualification on the five blocks on offer in the Albertine Graben is September 30th, 2020. The\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/05\/Uganda-rig.jpg?fit=699%2C466&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/05\/Uganda-rig.jpg?fit=699%2C466&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/05\/Uganda-rig.jpg?fit=699%2C466&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3210,"url":"https:\/\/www.oilnewskenya.com\/index.php\/preview-ugandas-oil-gas-sector\/","url_meta":{"origin":1699,"position":5},"title":"Preview into Uganda\u2019s Oil and Gas Sector","author":"","date":"August 5, 2015","format":false,"excerpt":"Uganda\u2019s oil and gas sector has since the discovery of oil in 2006 transitioned from the exploration and appraisal phase to the development phase as the country prepares for sustainable production of the petroleum resources. A number of oil companies are currently licensed in the country to undertake petroleum exploration,\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/uganda-oil-001.jpg?fit=460%2C276&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1699"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1699\/revisions"}],"predecessor-version":[{"id":3427,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1699\/revisions\/3427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/421"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}