Uganda completes drilling at Albertine Graben oil project

Reuters12-02

Uganda completes drilling at Albertine Graben oil project

KAMPALA, Dec 2 (Reuters) - Uganda has completed drilling the minimum number of wells at the Albertine Graben oil project needed for commercial oil production to commence, planned for the second half of next year, the East African country's state-run oil firm said late on Monday.

The Tilenga and Kingfisher oilfield development projects are in Albertine Graben in western Uganda near its border with the Democratic Republic of Congo.

France's TotalEnergies TTEF.PA, China's CNOOC 600938.SS and the Uganda National Oil Company (UNOC) co-own the fields.

State-run UNOC said on X that a total of 156 wells in both Tilenga and Kingfisher needed for oil production to commence have been drilled. Overall, 457 wells are planned for the fields over their lifespan. At their peak, the fields are expected to produce about 230,000 barrels of crude per day.

UNOC said the configuration for a planned $4 billion refinery had been approved and that the processor will be built as a Residual Fluid Catalytic Cracker facility.

In October Uganda raised its recoverable crude reserves by 18% to 1.65 billion barrels.

(Reporting by Elias Biryabarema; Editing by Mrigank Dhaniwala)

((Email:elias.biryabarema@thomsonreuters.com; Tel. +254 20 499 1232; Reuters Messaging: elias.biryabarema.thomsonreuters.com@reuters.net))

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