{"id":28722,"date":"2020-01-24T05:10:03","date_gmt":"2020-01-24T05:10:03","guid":{"rendered":"http:\/\/abdas.org\/?p=28722"},"modified":"2020-01-24T05:10:03","modified_gmt":"2020-01-24T05:10:03","slug":"us-5bn-oilfields-to-be-developed-by-uganda","status":"publish","type":"post","link":"https:\/\/abdas.org\/2020\/01\/24\/us-5bn-oilfields-to-be-developed-by-uganda\/","title":{"rendered":"US $5bn Oilfields to be developed by Uganda"},"content":{"rendered":"<p><img loading=\"lazy\" src=\"http:\/\/abdas.org\/wp-content\/uploads\/2020\/01\/oilf.jpg\" alt=\"\" width=\"750\" height=\"375\" class=\"alignnone size-full wp-image-28723\" srcset=\"https:\/\/abdas.org\/wp-content\/uploads\/2020\/01\/oilf.jpg 750w, https:\/\/abdas.org\/wp-content\/uploads\/2020\/01\/oilf-300x150.jpg 300w, https:\/\/abdas.org\/wp-content\/uploads\/2020\/01\/oilf-150x75.jpg 150w, https:\/\/abdas.org\/wp-content\/uploads\/2020\/01\/oilf-500x250.jpg 500w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>Uganda decides to develop the Kingfisher and Tilega oilfields at a cost of US $5bn in a bid to boost the growth of its oil industry. The two oilfields are presently the subject of a tax dispute between government and three oil companies.<\/p>\n<p>According to Permanent Secretary of Energy, Robert Kasande, this amount forms part of the US $15bn to US $20bn projected to flow into the country\u2019s developing oil industry in three to five years, including the construction of a refinery and crude pipeline. \u201cThe funding will be used to drill over 500 wells and construct two central processing facilities and a water plant. Plans are also in the pipeline to award exploration companies five blocks by the end of this year,\u201d he affirmed.<\/p>\n<p>The five blocks on offer are located in the Albertine Basin; namely: Block 01 (Avivi), Block 02 (Omuka), Block 03 (Kasuruban), Block 04 (Turaco) and Block 05 (Ngaji). The bidding process will run for five months. The licensing round is scheduled to end by December 2020, with successful firms set to receive Petroleum Exploration Licenses.<\/p>\n<p>Total, CNOOC and Tullow Oil jointly own the Kingfisher and Tilega fields and the Ugandan government is in bargaining with Tullow to reduce its stake in the projects and allow final investment decisions to be concluded.<\/p>\n<p>The company indicated in its trading update that, joint venture conversations with the government of Uganda are ongoing and Tullow stays devoted to lessoning its equity stake in the project ahead of a final investment decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uganda decides to develop the Kingfisher and Tilega oilfields at a cost of US $5bn in a bid to boost the growth of its oil industry. The two oilfields are &hellip; <\/p>\n","protected":false},"author":49501,"featured_media":28723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[480],"tags":[],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/posts\/28722"}],"collection":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/users\/49501"}],"replies":[{"embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/comments?post=28722"}],"version-history":[{"count":0,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/posts\/28722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/media\/28723"}],"wp:attachment":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/media?parent=28722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/categories?post=28722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/tags?post=28722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}