UGANDA;Country picks Nigerian, Australian firms for oil licensing round

Uganda has picked three Nigerian companies and one from Australia for its oil exploration licensing round, inviting them to negotiate for production sharing agreements, it said on Monday.
It announced its first competitive bidding round for six exploration blocks, covering a total of 3,000 square kilometres (1,150 square miles), in February 2015.
Bidding documents were issued to 16 oil firms but only seven submitted bids.
The Ministry of Energy and Mineral Development said it selected Nigerian firms WalterSmithPetroman Oil Limited, Oranto Petroleum International, Niger Delta Petroleum Resources and Australia's Armour Energy Limited.
The four companies will negotiate for five production sharing agreements (PSAs) covering four blocks.
"Negotiations for these PSAs is the final milestone before granting exploration rights," the ministry said in a statement. Issues for negotiation would include exploration work programmes and how the financial proceeds will be shared.
Crude oil reserves estimated by government geologists at 3.5 billion barrels were discovered in the Albertine rift basin along Uganda's border with Democratic Republic of Congo (DRC) in 2006 but production has repeatedly been pushed back.
Spats over taxation, disagreements over field development strategies and delays in erecting infrastructure such as the export pipeline agreed with Tanzania in April have all been blamed.
The jointly developed pipeline will carry Ugandan crude oil to Tanzania's Indian Ocean port of Tanga for export.
The three oil firms already operating in Uganda - London-listed Tullow Oil, France's Total and China's CNOOC - did not participate in this bidding round.

https://pulse.ng/business/uganda-country-picks-nigerian-australian-firms-for-oil-licensing-round-id5329563.htm

The bidding for the oil blocks took place four months ago in march, 2016

The Ugandan government has announced that seven oil companies, three from Nigeria, have submitted bids for exploration of oil in the country’s next round of licensing.

In October 2015, the Ugandan government made a public announcement that no fewer than 16 firms had expressed interest in acquiring oil exploration blocks in the country.

According to a recent statement issued by the country’s Ministry of Energy and Mineral Development, seven bids for oil blocks in Albertine Graben were received.

The firms that submitted bids are: Armour Energy Limited (Australia), WalterSmith Petroman Oil Limited (Nigeria), Oranto Petroleum International Limited (Nigeria), Niger Delta Petroleum Resources Limited (Nigeria), Rift Energy Corporation of Canada, Glint Energy LLC of United States of America and Swala Energy Limited of Australia.

http://punchng.com/three-nigerian-firms-bid-for-uganda-oil-wells/

Crude oil in uganda, groundnut oil in northern nigeria. Oil na oil, oga bubu kwantinu searching, you will soon find burantashi oil grease your blockus.

Good for them

Who e go epp!!?

Them don baff



Who dem serve

ok

nothing good comes. out from buharia........

Dis one wey dem dey explore oil everywhere na.. e dey make me think say na the oil God go take destroy the world some people region go hot sha

Dem go dey give Uganda people work

A

Oil everywhere

Federal government should diversify into Agriculture, Manning and Production of goods/Consumables/Automobiles/ etc.....

Make we rest from Oil wahala jare

Evry1 searching for oil since time imo river. Don't be surprised if Uganda builds more refineries than 9ja sef.

Good for them,but how will this see to the growth of our economy?

This is lovely.

Oil supply clearly outpacing demand.....

Since its oil no p

For this kind oil price downfall?

Lemme rest here a little! before i continue my journey

nice

Good for them.

Arthur Eze [Oranto] na bad guy..

www.nairaland.com/attachments/1584880_a_jpeg14a53cac5a312f3d1ad4980fec051d42

The Ugandans wont like this, in their own backyard. I mean their oyel!

Nigeria government searching for crude oil in north east, allocating 127 billion naira for a place crude oil will never be found but will come out in the media to say diversification of the economy. From a look at things, the government don't want to diversify but still interested in oil money.....



Scamming Nigerians since 1960 still loading.......

Hmmm.......export to whom?....oil is no longer king.

Hmmm!

My brothers in the South talk to your leaders to utilized the remaining Oiyel money for development if not you are in a deep shit, because as everybody don dey explore Oiyel now that means say Oiyel value don't cast be dat o.


Selah!

so they now have oil in Uganda too...

Ok NDA, kwatinue blowing up your own na. BY the time people run comot go uganda, una go con use your 'oyel' to dey cook. Abi?
#silly people

What you guys don't know is that... Who oil money help sef?
An average Nigerian isn't feeling the impact of been an oil nation. We are feeding ourselves the very hard way.
Abeg, keep bombing... Your bombs no put or remove from my own morsel of Eba. Mtchew



Anyways


DrabeeyWasHere

U mean three IPOD yoot

Has oil finished in Nigeria?

saintikechi:
Crude oil in uganda, groundnut oil in northern nigeria. Oil na oil, oga bubu kwantinu searching, you will soon find burantashi oil grease your blockus.

bahdt guy

Nigerians brace yourself and others for farming. Oil is not exclusive again! If Uganda has oil then they is hope for lake Chad basin, Buhari should stop paying salaries and channel that cash to oil exploration in lake Chad