After taking a third of Tullow Oil's exploration assets with China's CNOOC earlier this year at about $2.9 billion, Total E&P Uganda is currently continuing the exploration, delineation and appraisal campaign initiated by previous operators.
As the first oil exploration well is set to be drilled by the end of 2012, eight new exploration well will be drilled before the end of 2013, said the Uganda general manager for Total E&P Loic Laurandel.
Uganda just discovered its oil along its border with Democratic Republic of Congo in 2006, Uganda has said it was searching for for an advisor to help it secure for a planned refinery to enable it process its crude.
Meanwhile production had been expected to start early this year but wrangling over tax and other issues delayed this development.
To attract investors, Tullow has advised that the country's refinery's capacity should not exceed 60,000 barrels per day, but the government thinks an output of about 120,000 barrels per day is very much viable and thus could easily attract investors.
(Edited by: Blueblock)
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