Posted on Tumblr on Oct 6.
CNOOC has been awarded the first Ugandan oil production license, for the Kingfisher area where it partners with Tullow and Total. Production is expected to start in 2017 and may extract 40k bbl/d from recoverable reserves estimated at 300m bbl. Part of the oil will go to a planned refinery near Hoima that CNOOC could also help build. Officials quoted by Oil in Uganda suggest Tullow may soon get licenses to drill nearby wells. CNOOC’s recent activities abroad include growing operations in Iraq and a bid to drill offshore Iceland.