Uganda to finalise oil exploration deal with Oranto Petroleum

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The Ugandan government said today that it is set to sign on Thursday two oil production sharing agreements with a Nigerian firm, enabling the company to begin exploration work, Reuters reports.

The firm, Oranto Petroleum International, was among a number of companies that bid in the country’s first competitive oil exploration licensing round last year, with two other Nigerian firms and Australia’s Armour Energy also getting through to final negotiations for the award of the PSAs.

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