First oil production license opens floodgates for investment and opportunities

Getting your Trinity Audio player ready...

By Mark Muhumuza The granting of Uganda’s first oil production license to China National Offshore Oil Corporation (CNOOC) in September for the Kingfisher Area (Block EA-3A) was not given the deserved attention by local media and thus went by as a low key ceremony. Even though the block contains an estimated 15% or 45,000 barrels per day (bpd) of the estimated full capacity flow of 22,000 b