With the East African Oil Pipeline project recently getting the go-ahead, Uganda is set to produce its first oil as early as 2025 and production in the next five years is expected to jump to 230,000 barrels per day, from zero in 2021, says GlobalData, a leading data and analytics company. Conor Ward, Oil & .
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With the East African Oil Pipeline project recently getting the go-ahead, Uganda is set to produce its first oil as early as 2025 and production in the next five years is expected to jump to 230 000 bpd, from zero in 2021, according to GlobalData.
Conor Ward, Oil & Gas Analyst at GlobalData, commented: “The Lake Albert oil development in Uganda will be one of the largest oil developments seen in Africa in the last 20 years, expecting to recover over 1.5 billion barrels of oil. The Tilenga and Kingfisher fields (part of the Lake Albert development) will bring significant value to the government of Uganda and the two fields alone could generate up to US$8 billion in fiscal revenues.”