Tullow Oil invests $200m
Nov 22, 2007
TULLOW Oil has so far invested $200m (about sh342b) in oil exploration in order to accelerate commercial production, the chief executive officer, Paul McDade, has disclosed.
By Ibrahim Kasita and Emmy Olaki
TULLOW Oil has so far invested $200m (about sh342b) in oil exploration in order to accelerate commercial production, the chief executive officer, Paul McDade, has disclosed.
“We are to listen to what the Government wants us to do for the people. We do not impose ourselves on the people. We believe in long-term investments,†McDade said while presenting a paper at the Sheraton Kampala Hotel.
“We expect to invest a further $100m (sh171b) before the initial production in 2009. This is the long-term investment.â€
He said since they started oil exploration activities in 2006/07 new access roads, two airstrips and schools had been constructed in Bunyoro.
McDade said they had also sensitised the local communities about good health, provided them with life jackets and mosquito nets and helping them set up economic activities like bee-keeping.
“We care about the environment. We have trained local contractors to maintain environmental standards, which is a huge investment in personnel,†McDade explained.
Since 2006, a number of oil and gas discoveries have been made in wells drilled by Tullow Oil and Heritage Oil and Gas.
Waraga-1 has potential of producing 12,000 barrels of oil per day (bpd), Mputa-1 1,100 bpd, Nzizi-2 has a daily flow rate of 14 million cubic feet of natural gas and Kingfisher-1 14,000 bpd.
Meanwhile, Tullow oil has started drilling another well in block 2 in Bunyoro where its first oil discoveries were made.
The Ngassa-1 exploration well in Block 2 commenced drilling on 17 November. The well is being drilled by the Nabors 221 rig and will test the high impact Ngassa prospect, which is located beneath Lake Albert.
The Nabors 221 rig has been specifically mobilised to the region in order to drill deep prospects located under the lake from onshore locations.
Drilling start-up was delayed as a result of heavy rain, which slowed construction on the drill site. The well has a planned length of 4,900 metres and is expected to take about 110 days to reach the primary target. The well has already been drilled to a depth of 311 metres.
Poor weather also affected the start of the Mputa-4 well test. This extended flow test commenced on November 21 and interpreted results are expected in early December.
TULLOW Oil has so far invested $200m (about sh342b) in oil exploration in order to accelerate commercial production, the chief executive officer, Paul McDade, has disclosed.
“We are to listen to what the Government wants us to do for the people. We do not impose ourselves on the people. We believe in long-term investments,†McDade said while presenting a paper at the Sheraton Kampala Hotel.
“We expect to invest a further $100m (sh171b) before the initial production in 2009. This is the long-term investment.â€
He said since they started oil exploration activities in 2006/07 new access roads, two airstrips and schools had been constructed in Bunyoro.
McDade said they had also sensitised the local communities about good health, provided them with life jackets and mosquito nets and helping them set up economic activities like bee-keeping.
“We care about the environment. We have trained local contractors to maintain environmental standards, which is a huge investment in personnel,†McDade explained.
Since 2006, a number of oil and gas discoveries have been made in wells drilled by Tullow Oil and Heritage Oil and Gas.
Waraga-1 has potential of producing 12,000 barrels of oil per day (bpd), Mputa-1 1,100 bpd, Nzizi-2 has a daily flow rate of 14 million cubic feet of natural gas and Kingfisher-1 14,000 bpd.
Meanwhile, Tullow oil has started drilling another well in block 2 in Bunyoro where its first oil discoveries were made.
The Ngassa-1 exploration well in Block 2 commenced drilling on 17 November. The well is being drilled by the Nabors 221 rig and will test the high impact Ngassa prospect, which is located beneath Lake Albert.
The Nabors 221 rig has been specifically mobilised to the region in order to drill deep prospects located under the lake from onshore locations.
Drilling start-up was delayed as a result of heavy rain, which slowed construction on the drill site. The well has a planned length of 4,900 metres and is expected to take about 110 days to reach the primary target. The well has already been drilled to a depth of 311 metres.
Poor weather also affected the start of the Mputa-4 well test. This extended flow test commenced on November 21 and interpreted results are expected in early December.