In 2019, the Ministry of Energy and Mineral Resources of the Republic of Uganda announced the bidding round for the country’s Second Licensing Round, with the deadline for submission slated for September 30th, 2020. The five blocks in the ongoing licensing round are located in Albertine Graben.
The development of the Lake Albert Project being carried out by Total and the Chinese National Offshore Oil Corporation (CNOOC) has already proven to generate billions of barrels of oil and will provide a major boost to the economy of the country, but the Ugandan government is not relenting on its efforts to attract further investments to the Hydrocarbon sector.
Tullow Oil was formerly part of the developers of the Lake Albert Project but recently sold all of its stakes to Total in a deal that is awaiting approval from the relevant Ugandan authorities to be completed.
READ ALSO: Tullow Awaits Approval from Ugandan Government to Complete Deal with Total
Uganda National Oil Company (UNOC) is inviting interested entities to establish a joint-venture partnership, participate in the licensing round, and secure an exploration license. All upstream companies with traceable records of exploration operations are eligible to apply for a joint-venture with the UNOC.
The guidelines for the joint-venture proposal can only be accessed after interested parties send a company profile and power of attorney to jvexploration@unoc.co.ug. The proposal is expected to be submitted no later than 5 pm Ugandan local time on July 24th, 2020.
Commenting on the call by the UNOC, the Executive Chairman of the African Energy Chamber, NJ Ayuk, described it as a step in the right direction. The EC said “Partnerships between National Oil Companies and International Oil Companies is a great opportunity for successful transfers of skills and technology. The call for such joint-venture partnerships in Uganda is a clear example of forward-thinking from the Uganda National Oil Company and the government. Uganda has a talented and trained youth who is eager to participate in the development of the country’s hydrocarbons sector, and partnerships are the way forward to achieve that.”
/strong%20has%20already%20proven%20to%20generate%20billions%20of%20barrels%20of%20oil%20and%20will%20provide%20a%20major%20boost%20to%20the%20economy%20of%20the%20country,%20but%20the%20Ugandan%20government%20is%20not%20relenting%20on%20its%20efforts%20to%20attract%20further%20investments%20to%20the%20Hydrocarbon%20sector.stronga%20href=https://ibekachikwu.com/wp-content/uploads/2020/06/be32d8f4-8e0a-46ab-ab03-c0a2311748e8.jpgimg%20class=size-medium%20wp-image-1777%20alignleft%20src=https://ibekachikwu.com/wp-content/uploads/2020/06/be32d8f4-8e0a-46ab-ab03-c0a2311748e8-300x150.jpg%20alt=%20width=300%20height=150%20//aTullow%20Oil/strong%20was%20formerly%20part%20of%20the%20developers%20of%20the%20Lake%20Albert%20Project%20but%20recently%20sold%20all%20of%20its%20stakes%20to%20strongTotal/strong%20in%20a%20a%20href=https://ibekachikwu.com/tullow-awaits-approval-from-ugandan-government-to-complete-deal-with-total/deal/a%20that%20is%20awaiting%20approval%20from%20the%20relevant%20Ugandan%20authorities%20to%20be%20completed. h3a%20href=https://ibekachikwu.com/tullow-awaits-approval-from-ugandan-government-to-complete-deal-with-total/strongREAD%20ALSO: Tullow%20Awaits%20Approval%20from%20Ugandan%20Government%20to%20Complete%20Deal%20with%20Total/strong/a/h3 stronga%20href=https://ibekachikwu.com/wp-content/uploads/2020/06/5a55d5f8-7352-41f9-a5a7-994aeb7891bc.jpgimg%20class=size-medium%20wp-image-1991%20alignright%20src=https://ibekachikwu.com/wp-content/uploads/2020/06/5a55d5f8-7352-41f9-a5a7-994aeb7891bc-300x163.jpg%20alt=%20width=300%20height=163%20//a/strong strongUganda%20National%20Oil%20Company%20(UNOC)/strong%20is%20inviting%20interested%20entities%20to%20establish%20a%20joint-venture%20partnership,%20participate%20in%20the%20licensing%20round,%20and%20secure%20an%20exploration%20license.%20All%20upstream%20companies%20with%20traceable%20records%20of%20exploration%20operations%20are%20eligible%20to%20apply%20for%20a%20joint-venture%20with%20the%20strongUNOC/strong.The%20guidelines%20for%20the%20joint-venture%20proposal%20can%20only%20be%20accessed%20after%20interested%20parties%20send%20a%20company%20profile%20and%20power%20of%20attorney%20to%20jvexploration@unoc.co.ug.%20The%20proposal%20is%20expected%20to%20be%20submitted%20no%20later%20than%205%20pm%20Ugandan%20local%20time%20on%20July%2024th,%202020.Commenting%20on%20the%20call%20by%20the%20strongUNOC/strong,%20the%20Executive%20Chairman%20of%20the%20a%20href=https://energychamber.orgstrongAfrican%20Energy%20Chamber/strong/a,%20NJ%20Ayuk,%20described%20it%20as%20a%20step%20in%20the%20right%20direction.%20The%20EC%20said%20em“Partnerships%20between%20National%20Oil%20Companies%20and%20International%20Oil%20Companies%20is%20a%20great%20opportunity%20for%20successful%20transfers%20of%20skills%20and%20technology.%20The%20call%20for%20such%20joint-venture%20partnerships%20in%20Uganda%20is%20a%20clear%20example%20of%20forward-thinking%20from%20the%20Uganda%20National%20Oil%20Company%20and%20the%20government.%20Uganda%20has%20a%20talented%20and%20trained%20youth%20who%20is%20eager%20to%20participate%20in%20the%20development%20of%20the%20country’s%20hydrocarbons%20sector,%20and%20partnerships%20are%20the%20way%20forward%20to%20achieve%20that.”/em){kind=link}