Oil production to start in 2010
Mar 16, 2009
KAMPALA Tullow Oil, the UK firm exploring for oil and gas in Uganda, is to produce its first oil in early 2010 after finding more resources in Lake Albert, Paul McDade, the chief operating officer, has said.
KAMPALA Tullow Oil, the UK firm exploring for oil and gas in Uganda, is to produce its first oil in early 2010 after finding more resources in Lake Albert, Paul McDade, the chief operating officer, has said.
McDade said Tullow also plans to export crude through Kenya in about five years. He said daily output would start at about 500 barrels per day (bpd) and be limited to 2,000 bpd or “a bit more†for the first three years. McDade said the output would rise to 20,000 bpd in three to five years and reach 100,000 to 150,000 bpd within 10 years. “Production will be low-cost and efficient,†McDade reportedly said, adding: “We don’t anticipate any significant capital development this year.â€
McDade said Tullow also plans to export crude through Kenya in about five years. He said daily output would start at about 500 barrels per day (bpd) and be limited to 2,000 bpd or “a bit more†for the first three years. McDade said the output would rise to 20,000 bpd in three to five years and reach 100,000 to 150,000 bpd within 10 years. “Production will be low-cost and efficient,†McDade reportedly said, adding: “We don’t anticipate any significant capital development this year.â€