China's CNOOC to Spend $2B on Uganda Oil Field, Says Official
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)
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.
- ExxonMobil Reports More Offshore Guyana Success (Jan 05)
- CNOOC 3Q Revenue Rises; Only Halfway To 2017 Spending Goal (Oct 25)
- CNOOC Completes Test Runs at Huizhou Refinery in Guangdong - Report (Oct 09)