China's CNOOC to Spend $2B on Uganda Oil Field, Says Official

Reuters

KAMPALA, Sept 25 (Reuters) - China's CNOOC has been awarded a final production licence for Uganda's Kingfisher oil field and will spend $2 billion over four years to develop it, a senior Ugandan official said on Thursday.

The field, with an estimated 635 million barrels of reserves of which 196 million are recoverable, would produce between 30,000 to 40,000 barrels of crude per day, Uganda's junior energy minister, Peter Lokeris, said.

(Reporting by Elias Biryabarema; Writing by Edmund Blair; Editing by Louise Heavens)

Copyright 2015 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Reservoir Engineering Advisor - Houston
Expertise: Petroleum Engineering|Reservoir Engineering
Location: Houston , TX
 
Senior Reservoir Engineer
Expertise: Petroleum Engineering|Production Engineering|Reservoir Engineering
Location: Houston, TX
 
On-Site Construction Representative
Expertise: Civil Construction|Construction Superintendent|Field Development
Location: Shreveport, LA
 
search for more jobs

Brent Crude Oil : $53.47/BBL 2.10%
Light Crude Oil : $47.39/BBL 1.55%
Natural Gas : $2.79/MMBtu 0.72%
Updated in last 24 hours