Archive for February 23rd, 2012

23/02/2012

Uganda – Foreign Corporations Plan Massive Oil Production

Human Wrongs Watch

By Tony Otoa*, Think Africa Press – Tullow Oil plc announced that it has completed the farm-down of two thirds of its Ugandan licences to China National Offshore Oil Corp (CNOOC) Limited and French oil major Total for $2.9 billion earlier today. The news that British firm Tullow has finally brought in partners to develop its oil fields in Uganda paves the way for commercial oil production to begin in the country.

A Tullow oil camp in Uganda | ThinkAfricaPress.com

Tullow’s sale of much of its stake in Ugandan oil fields follows the recent signing of Production Sharing Agreements (PSAs) and the Kingfisher production licence with the government of Uganda.

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