China's CNOOC to Spend $2B on Uganda Oil Field, Says Official
|Wednesday, September 25, 2013
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 2014 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
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.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you