BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

World Bank to provide $245 mil in infrastructure funds for Uganda's oil region

Natural Gas | Oil

Platts Scenario Planning Service

Commodities | Natural Gas | Oil | Refined Products

Brazil Oil and Gas Conference

Natural Gas | Oil | Crude Oil

La argentina YPF anticipa un crecimiento constante de la producción de petróleo en Vaca Muerta

World Bank to provide $245 mil in infrastructure funds for Uganda's oil region

Highlights

Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports

Supply and demand trends, government actions, exploration and technology

Daily futures summary

Weekly API statistics, and much more

The World Bank will fund infrastructure projects worth $245 million to revamp facilities in Uganda's Albertine oil region, ahead of first oil production in the country, Uganda's President Yoweri Museveni said in a statement Thursday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

World Bank Vice President for Africa Makhtar Diop announced this during a meeting with Museveni in Kigali, Rwanda, on Thursday, according to the statement.

Uganda's oil region, located along the country's western border with the Democratic Republic of Congo is remote, with very limited infrastructure such as roads, air strips and railways -- a major handicap for the planned exploitation of oil fields, which are estimated to hold some 3.5 billion barrels of crude.

Oil companies, such as UK's Tullow, China National Offshore Oil Corp. and France's Total, are expected to spend up $15 billion to develop oil fields in the next three-five years.


CNOOC, which is developing the Kingfisher oil field in the Lake Albert Basin, said early this month that development of the field will likely be delayed by a year to 2018 due to infrastructure bottlenecks. The Kingfisher field has an estimated 635 million barrels of oil reserves and is expected produce between 30,000 to 40,000 b/d of crude when it comes on stream.

Uganda is also planing to build a 60,000 b/d oil refinery and an export pipeline to ship out surplus commercial volumes of crude.

--Namala Doreen, newsdesk@platts.com
--Edited by Deepa Vijiyasingam, deepa.vijiyasingam@platts.com