By www.mkewslink.com reporter,
Kikuube District.
H.E Yoweri K Museveni has launched oil drilling activities at the Kingfisher Development Area in Kikuube District that involved commissioning of the kingfisher drilling rig for all 31 oil wells, including the deepest well which is over seven kilometers in depth.
The kingfisher area Development Area is operated by China National Offshore Oil Corporation(CNOOC) which is one of the largest oil and gas companies in Uganda’s energy sector.
According to the petroleum Authority of Uganda, the oil and gas resources that have been discovered in Uganda to date are close to 6.5 billion barrels in place of the Albertine Garden.
Adding on, out of the 6.5 billion barrels, Uganda expects to recover about 1.4 billion barrels, at a peak production rate of about 230,000 barrels per day.
President Museveni said that 6.5 billion barrels of oil are only 40% of the Muttanziga-Butungi valley saying that there’s another 60% in places which include Moroto-Kadam basin in Karamoja, parts of Lango and Kaberamaido which are part of the North Kyoga basin, and Hoima basin(Kafu).
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