October 11, 2024
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OIL & GAS

Uganda Expands Oil Exploration with $246M Budget Boost

Uganda is intensifying its oil exploration by launching studies in the Moroto-Kadam and Kyoga basins, marking a significant expansion beyond its traditional oil-rich regions.

This initiative follows the government’s decision to boost the oil and gas sector’s budget to $246 million through mid-2025, reflecting its commitment to enhancing national energy resources.

Currently, Uganda’s oil production is concentrated in the Albertine Graben basin, particularly in the Tilenga and Kingfisher fields.

The new exploration efforts are aimed at strengthening the country’s oil industry ahead of the anticipated production start in the Albertine region.

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