Uganda’s government is preparing to launch its third round of petroleum exploration licensing in the 2025/2026 fiscal year (July-June), according to Energy and Mineral Development Minister Ruth Nankabirwa.
The upcoming licensing round will open new areas for oil and gas exploration, although specific regions, including the Albertine Graben or northern and northeastern basins, have not yet been confirmed.
Uganda, which discovered crude oil in the Albertine Graben nearly 20 years ago, aims to commence production this year.
The country also continues efforts to revitalize its mining sector, with the Kilembe copper mine redevelopment nearing final negotiations.
The mine, located near the Democratic Republic of Congo border, contains an estimated 4 million tonnes of ore, with grades of 1.98% copper and 0.17% cobalt.
Operations at the mine have been suspended since the early 1970s due to political instability and low copper prices after its abandonment by Canadian company Falconbridge.
Uganda’s oil reserves are estimated at 6.5 billion barrels, with around 1.4 billion barrels considered economically viable.
Most of these reserves are located along the western border with the Democratic Republic of the Congo. Key sites for oil development include the Kingfisher and Tilenga fields in the Lake Albert Basin, where development drilling for the East Africa Crude Oil Project has been underway since mid-2023.
As of August 2024, the Tilenga project had completed 63 out of its planned 426 wells, while the Kingfisher project had drilled nine production wells.
