Uganda Aims for Commercial Oil Production by Year's End with Estimated $500M Annual Revenue

Uganda is edging closer to its first oil production, with the Kingfisher Development Area now mechanically complete and entering the commissioning phase. The Energy Ministry Permanent Secretary Irene Bateebe says Uganda expects to start commercial oil production by the end of this year, with output initially at about 25,000 barrels per day at Kingfisher before rising to 40,000 barrels per day early next year.

During the official launch of Uganda's crude oil brand, Pearl Sweet, at the Kingfisher oil fields in Kikuube District, Bateebe stated that commercial oil production is expected to generate about $500 million annually. This figure is anticipated to rise to an estimated $2 billion a year at peak production.