The Uganda National Oil Company (UNOC) is actively courting investors to partner in the exploration and development of the Kasuruban oil and gas block.
Philips Obita, UNOC’s General Manager-Upstream, made the call at the Sub Saharan Africa International Petroleum Exhibition & Conference in Lagos, Nigeria.
Located in Uganda’s oil-rich Albertine Graben, the Kasuruban block spans 1,285 square kilometers and presents a promising investment opportunity.
Obita highlighted the block’s proximity to ongoing projects, including Tilenga, Kingfisher, and the Kabalega Industrial Park, which will facilitate post-exploration activities.
“Uganda’s oil exploration success rate stands at an impressive 88%, thanks to the country’s favorable investment climate,” Obita said, adding; “The government has implemented policies and regulations to support the growth of the oil and gas sector, making it an attractive destination for investors.”
The Kasuruban block offers a unique opportunity for investors to partner with UNOC and tap into Uganda’s burgeoning oil sector, according to Obita.
With the country poised to become a major oil producer, investors are keen to capitalize on the opportunities presented by the Kasuruban block.
The Sub Saharan Africa International Petroleum Exhibition & Conference, organized by PETAN, provides a platform for stakeholders to discuss investment opportunities, share knowledge, and showcase innovations in the oil and gas sector.
Why Kasuruban is an Attractive Investment Destination:
Kasuruban is a region located in the western part of Uganda, near the Albertine Graben. The region is rich in oil and gas reserves, making it an attractive destination for investors. Here are some reasons why:
Proven Oil Reserves
Kasuruban is home to several oil fields, including the Kasuruban oil field, which is estimated to hold around 150 million barrels of recoverable oil (Source: Uganda National Oil Company).
Infrastructure Development
The region is witnessing significant infrastructure development, including the construction of roads, bridges, and pipelines. This infrastructure development will facilitate the transportation of oil and gas, making it easier for investors to operate in the region.
Government Support
The Ugandan government is committed to supporting the development of the oil and gas sector. The government has established a number of institutions, including the Uganda National Oil Company and the Petroleum Authority of Uganda, to oversee the development of the sector.
Investment Opportunities
Kasuruban offers a range of investment opportunities, including exploration and production, refining and petrochemicals, and infrastructure development.
Uganda’s oil and gas industry is poised for significant growth, with Kasuruban being an attractive investment destination. The region’s proven oil reserves, infrastructure development, government support, and investment opportunities make it an ideal location for investors looking to tap into the country’s oil and gas sector. As the country prepares to commence oil production in 2025, investors who take advantage of the opportunities in Kasuruban are likely to reap significant rewards.