Uganda Auctions 45,211 Barrels of Crude Oil Extracted During Well Appraisal Period

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Uganda is selling a total of 45,211 barrels of sweet and waxy crude oil extracted from well testing activities during the appraisal period, the National Oil Company said Wednesday.

The crude was extracted from Exploration Areas 1 and 2 in the Albertine Graben.  The two areas are undergoing pre-production development ahead of the 2020 production time line, ceteris Peribus.

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Joint Venture partners; Total, Tullow, and China’s CNOOC are expected to invest a combined $8 billion in infrastructure required to support oil production, including drilling 500 wells and erecting central processing facilities and feeder pipelines, according to the production licenses issued to Total and Tullow in August 2017.

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