Nigerian independent Oranto Petroleum – a prominent actor within Uganda’s emerging exploration scene – has secured a two-year extension to its Ngassa Deep and Ngassa Shallow exploration licenses from Uganda’s Ministry of Energy and Mineral Development.
The extension will enable the company to drill an exploration and appraisal well. Oranto Petroleum was initially awarded the exploration license for the Ngassa asset in 2017.
The license was one of three issued in the country’s first oil and gas licensing round, covering the Ngassa Shallow Play and Ngassa Deep Play (licensed to Oranto Petroleum) and Kanywataba Exploration Block.
“This extension is very important, as it will contribute towards increasing Uganda’s oil volumes. We appreciate the extension, and want to assure the Ministry that we will fulfill the work program as planned within the designated period,” stated Prince Arthur Eze, Chairman of Oranto Petroleum.
Uganda represents one of the few remaining frontier markets on the African continent, estimated to hold up to 6.5 billion barrels of oil reserves.
Its Lake Albert Development Project – which encompasses the Tilenga and Kingfisher upstream oil projects and construction of the East African Crude Oil Pipeline – is expected to produce 230,000 barrels per day when it comes online in 2025.
