Tullow Sees Ugandan Oil Production at 200,000 B/D

Uganda Blocks
(Click to Enlarge)

KAMPALA, Uganda (Dow Jones), Mar. 25, 2010

Uganda is expected to produce around 200,000 barrels of oil a day once the country's oil fields are developed, with the prospect of higher output when the country reaches full-scale oil production, the chief operating officer of U.K.-based Tullow Oil said Thursday.

Uganda's next oil development phase requires at least $5 billion to enable the country develop its downstream oil industry, Paul McDade told a business forum organized by the Uganda Chamber of Mines and Petroleum.

Up to $750 million has been invested in Uganda's oil exploration phase to date and Tullow, France-based Total SA, and Cnooc Ltd. are looking to invest more to develop the next phase of the oil sector, McDade said.

Copyright (c) 2010 Dow Jones & Company, Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Odessa: Engineer - Frac/Acid
Expertise: Petroleum Engineering
Location: Odessa, TX
United States Houston: Senior Drilling Fluids Engineer
Expertise: Drilling Engineering
Location: Houston, TX
Region Leader - Field Development
Expertise: Field Development|Process Engineer|Subsea Engineering
Location: Houston
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours