Uganda Discovers More Oil Resources
The Petroleum Authority of Uganda (PAU) has announced a significant rise in the country’s recoverable oil reserves, which have grown from 1.4 billion barrels to 1.65 billion barrels. According to the agency, new appraisal studies and reservoir analyses in the Albertine Graben region revealed the additional potential.
Details from the Petroleum Authority
PAU explained that the reassessment followed detailed geological and seismic surveys conducted with the assistance of international experts. The updated figure now represents about 70 percent of Uganda’s total discovered oil resources.
"The increase demonstrates improved understanding of our reservoirs and the growing maturity of Uganda’s oil and gas sector," said Ernest Rubondo, Executive Director of PAU.
He emphasized that this discovery enhances investor confidence ahead of the country’s first oil production phase, expected in the next few years.
Development and Infrastructure
Ongoing projects, including the East African Crude Oil Pipeline (EACOP) and refinery designs, are crucial to transporting Uganda’s oil resources to international markets. The government reiterated its commitment to ensuring environmentally safe extraction and community participation in oil development programs.
Economic Implications
Analysts predict that the expansion of recoverable reserves could boost Uganda’s revenue projections and attract additional foreign investment. The oil sector is expected to play a central role in supporting the country’s Vision 2040 strategy for industrialization and economic transformation.
Author’s Summary: Uganda confirmed a 250-million-barrel increase in recoverable oil reserves after new studies, strengthening its position in East Africa’s energy market.
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