8 March 2016

Nigerian Firms Dominate Bid for Uganda's Oil

Photo: The Guardian
(file photo).

Three Nigerian oil and gas firms have submitted bids in the final round of Uganda's first oil licensing.

The government received seven bids for the six exploration blocks on offer, Ugandan newspaper, the Daily Monitor reported.

A statement by the country's Ministry of Energy gave the three Nigerian companies as, WalterSmith Petroman Oil Limited, Oranto Petroleum International Ltd and Niger Delta Petroleum Resources Ltd.

The other four are, Armour Energy Limited of Australia, Rift Energy Corporation of Canada, Glint Energy LLC of USA and Swala Energy Ltd of Australia.

The winners of the blocks are expected to be announced before the end of June. The six blocks they are competing for include the Ngassa, Tai Tai and Karuka, Mvule, Turaco, Kanywantaba, and the Ngaji.

In October, 2015, the government announced that it had qualified 16 firms to submit bids for the blocks in the Albertine Graben.

"The attraction of seven bidders is significant taking into consideration the current low global oil and gas prices," the statement said according to the Daily Monitor.

Mr Fred Kabagambe-Kaliisa, the permanent secretary in the Ministry of Energy, said: "The good success of the bidding process is largely attributed to geological success within the Albertine Graben and the fact that majority of the blocks on offer have proven oil and gas potential."

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