With reserves of -.-bn barrels of crude, Uganda has Sub-Saharan Africa s fourth-largest crude reserves, behind Nigeria, Angola and South Sudan. There is limited short-term upside risk to reserves: current exploration and appraisal campaigns have reached an end and new exploration will be delayed until more concrete progress is made towards developing existing discoveries. ...With reserves of -.-bn barrels of crude, Uganda has Sub-Saharan Africa s fourth-largest crude reserves, behind Nigeria, Angola and South Sudan. There is limited short-term upside risk to reserves: current exploration and appraisal campaigns have reached an end and new exploration will be delayed until more concrete progress is made towards developing existing discoveries. Limited interest in the ongoing licensing round will delay short to medium term new exploration. ...The Hoima-Tanag pipeline will therefore be more important to initiating revenue generation from Uganda s oil resources than the refinery. Construction on the -,---km pipeline is expected to begin in early ----, with completion targeted for ----.
...� While this is a major change from initial plans, the fact that a decision has been reached and that Total is a backer of the project is positive news for the project, and therefore for crude oil production by ----/----. � In April ----, with the new crude pipeline route being targeted through Tanzania instead of Kenya, Tanzania offered to take an - stake in Uganda s planned oil refinery, a deal sweetener that could provide additional financing and export potential for the refined products. ...� While this is a major change from initial plans, the fact that a decision has been reached and that Total is a backer of the project is positive news for the project, and therefore for crude oil production by ----/----. � In April ----, with the new crude pipeline route being targeted through Tanzania instead of Kenya, Tanzania offered to take an - stake in Uganda s planned oil refinery, a deal sweetener that could provide additional financing and export potential for the refined products. We expect crude oil exports of about ---,--- barrels a day (b/d) by the end of our forecast period, dependent on the timing of first oil production. ...Depending on the result of the study, gas-based thermal power generation projects could be prioritised over crude-based power generation projects. This causes upside risk to our gas consumption within the very back-end of our gas consumption forecast.
...Current exploration and appraisal programmes in licensed blocks by Tullow Oil, Total and CNOOC are for the most part complete. Until new exploration picks ups, there is limited upside risk to oil reserves over the coming years. ...
