Uganda National Oil Company Seeks International Partner for Western Block Development
Uganda National Oil Company (UNOC) is actively pursuing a joint venture partnership to explore and develop an oil block in the country’s western region, as the state-owned firm advances its exploration portfolio. The initiative represents a strategic move to leverage international expertise while maintaining national control over key energy assets.
UNOC signed a two-year production sharing agreement with Uganda’s government in 2023 for the Kasuruban exploration block, with renewal options for additional two-year periods. The company successfully renewed the agreement in March, demonstrating confidence in the block’s potential.
Company spokesperson Angella Ambaho confirmed the search for a development partner while declining to specify the equity stake a potential joint venture partner would assume. UNOC’s existing portfolio includes a 40% stake in Uganda’s refinery project and 15% stakes in the Tilenga and Kingfisher oil projects, as well as the East African Crude Oil Pipeline.
The state oil company operates as a crucial bridge between Uganda’s oil production aspirations and international technical expertise, working alongside established players like TotalEnergies and CNOOC. Uganda anticipates achieving first oil production by 2026, making the Kasuruban block development timeline particularly significant.
UNOC’s partnership strategy reflects Uganda’s broader approach to balancing national ownership with international expertise in developing its energy sector infrastructure and production capabilities.
Source: Oilprice.com
