Uganda: Estimated oil reserves lifted

UGANDA’S estimated oil reserves had almost doubled to more than 6.5 billion barrels based on new estimates by international oil companies prospecting in the country, the Energy Ministry said on Friday. Commercial oil deposits were first discovered in the north-western Albertine Graben region in 2006, and deposits of about 3.5 billion barrels were confirmed two years ago. “Of the oil in place, 1.4 billion barrels of oil are estimated to be recoverable”, according to the evaluations, the ministry said. – Sapa-dpa