Home Business & Money Uganda set to be among SSA’s top 5 oil producers

Uganda set to be among SSA’s top 5 oil producers

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oil exploration

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, according to GlobalData, a leading data and analytics company.

The Tilenga and Kingfisher fields are expected to generate up to US$8bn in fiscal revenues.

It has been 15 years since the Kingfisher field – now operated by CNOOC – was first discovered.

Read more about oil exploration in Uganda