At least five new blocks have been put for the second licencing round in the Albertine Graben
This announcement was made during the 9th East African Petroleum Conference and Exhibition in Mombasa _Kenya last recently by the energy and mineral development Minister Engineer Irene Muloni
The Minister said they were expecting many potential exploration companies for the blocks given since the current price of crude oil was high and very attractive for investment , adding that the cost of finding oil in Uganda has been very low of less than a dollar per barrel as compared to world average of two dollars per barrel
” I am very pleased to announce that my five new brides are ready ,they are very attractive and easy to find ,invite investors to come and take them up ” said Muloni
She also noted that the investment climate in Uganda was very conducive for investment singing out peace and security , infrastructural development , tax incentives and good human resource made of youthful and educated population
The five blocks are Avivi with area coverage of (1026km2) , Omuka (750km2) , Kasuruban (1285km2), Turaco (637km2) and Ngaji (1230km2) .
In regard to the announcement, the Ministry will issue a request for qualification inviting interested firms to submit application within a duration of six months there after the successful applicants will be issued with bidding documents comprising of modal of production sharing agreement and data sale regulations among others .
The bidding process will take five months and result in the negotiations and signing of production sharing agreement between government and the successful bidders , the licencing round is expected to be concluded with the award of petroleum exploration licenses for successful firms by December 2020.
Eng.Muloni led the Uganda delegation to the 9th East African Petroleum Conference and Exhibition which included Members of Parliament , Ministry Official , the petroleum authority of Uganda , Uganda National Oil Company , Uganda Chambers of Mines and Petroleum , Uganda Wild life Authority and the Media.