Govt announces second round of oil exploration

Government announces the second round for oil and gas exploration with six exploration blocks up for grabs in the Lake Albert basin.

This after parliament and cabinet gave the energy ministry a go ahead last month to conduct the first ever competitive licensing exercise that will cover a total of 3000 square kilometers.

6.5 barrels have so far been discovered in 40% of the Albertine Graben which totals 23,000 square kilometers but less than 10% of this is licensed.

Energy minister Irene Muloni says they are conducting a worldwide search for companies on a competitive basis with the license due to be awarded in October

Story by

Nebert Rugadya

February 25 2015