Oil production – first drop expected in 2019
Oil companies have today revealed that Ugandans should expect the first oil drop for use in 2019.
The three oil companies including CNOOC, total E&P and Tullow told a press conference that at least 12 billion dollars is the estimated additional investment into the development stage expected to last for five years.
The Tullow managing director Jimmy Mugerwa said that they have now surpassed the appraisal stage and now heading for development that includes infrastructure development after which oil production will begin.
Earlier government had set 2016 as the deadline for conclusion of the appraisal.
