Uganda: signing of an oil exploration agreement with a unit of the Australian company DGR Global

DGR Energy Turaco Uganda Limited will explore the Turaco block, a 637 km² strip in the Albertine Rift Basin, straddling the African nation’s border with the Democratic Republic of Congo.

Turaco was one of five blocks up for auction in Uganda’s second licensing round, launched in 2019.

« This license marks an important milestone for the second competitive licensing round, » said Energy Minister Ruth Nankabirwa in the capital, Kampala.

The implementation of the round had been delayed by the COVID-19 pandemic, with travel restrictions affecting the bidding and negotiation phases, she added.

The agreement gives DGR Energy four years of exploration.

Uganda discovered commercial hydrocarbon deposits in 2006 and reserves are estimated at 6.5 billion barrels.