Uganda Unveils 'Pearl Sweet' Crude Oil Blend Ahead of Commercial Production
Uganda has named its planned crude oil blend 'Pearl Sweet,' marking progress toward commercial oil production expected to begin by the end of the year. The name combines national identity with a commercial description, according to the Ministry of Energy.
The move comes after decades of setbacks since commercially viable crude deposits were discovered two decades ago. Uganda's recoverable oil reserves are estimated at about 1.6 billion barrels, with TotalEnergies holding the largest stake alongside China National Offshore Oil Corporation (CNOOC). The Ugandan people own 15% of the project through the Uganda National Oil Company.
Production is expected to level out at around 230,000 barrels per day, with blended crude exports coming from separate projects run by CNOOC and TotalEnergies. President Yoweri Museveni said, 'This marks an important milestone in our journey to develop Uganda's oil and gas resources for value addition and economic transformation.'