Nigeria’s Oranto Petroleum confirms Uganda oil exploration deal

0
99

Nigeria’s Oranto Petroleum said on Tuesday that it has signed two production sharing agreements with Uganda to explore for oil and gas around Lake Albert, Reuters reports.

Oranto was among several companies, including Australia’s Armour Energy, that last year bid in Uganda’s first competitive oil exploration licensing round.

“We are excited to enter this agreement … Lake Albert is home to some prime petroleum acreage,” Prince Arthur Eze, chairman of Oranto Petroleum, said in a statement.

The deal covers the Ngassa Shallow Play and Ngassa Deep Play exploration blocks located near the southern part of Lake Albert, Uganda’s ministry of energy and mineral development said.