• Upstream
  • Pipelines & Transport
  • Downstream
Oil&Gas Advancement
  • Home
  • News

    North Sea oil, gas industry to reach significant milestones due to investment increases, exploration, production success

    Oceaneering introduces new USV service for remote survey work at Offshore Europe 2023

    Oceaneering introduces new USV service for remote survey work at Offshore Europe 2023

    Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana

    Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana

    Anticipated $4.21 Billion Growth In AI Adoption In Oil & Gas

    Azerbaijan: Inauguration of the Absheron gas field

    Azerbaijan: Inauguration of the Absheron gas field

    Equinor capitalizes shares

    Equinor awards COSL Offshore Management two drilling contracts worth $369 million

    Petronas hires Maersk semi-submersible for Suriname exploration

    Cheiron makes new oil discovery in mature Egyptian exploration well

    Bahamas Petroleum signs rig contract for exploration well

    Neptune Energy begins drilling at first Egyptian exploration well

    Baker Hughes launches AI software to optimise oil and gas production

    Wintershall Dea, partners safely install additional subsea template for offshore Norwegian oil, gas field

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases

    17th International Conference “LUBRICANT MARKET 2023”

    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News

    North Sea oil, gas industry to reach significant milestones due to investment increases, exploration, production success

    Oceaneering introduces new USV service for remote survey work at Offshore Europe 2023

    Oceaneering introduces new USV service for remote survey work at Offshore Europe 2023

    Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana

    Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana

    Anticipated $4.21 Billion Growth In AI Adoption In Oil & Gas

    Azerbaijan: Inauguration of the Absheron gas field

    Azerbaijan: Inauguration of the Absheron gas field

    Equinor capitalizes shares

    Equinor awards COSL Offshore Management two drilling contracts worth $369 million

    Petronas hires Maersk semi-submersible for Suriname exploration

    Cheiron makes new oil discovery in mature Egyptian exploration well

    Bahamas Petroleum signs rig contract for exploration well

    Neptune Energy begins drilling at first Egyptian exploration well

    Baker Hughes launches AI software to optimise oil and gas production

    Wintershall Dea, partners safely install additional subsea template for offshore Norwegian oil, gas field

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases

    17th International Conference “LUBRICANT MARKET 2023”

    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

    OERA & ONHYM Reach Agreement to Enhance Offshore Energy Research & Development

    Santos receives major approval for oil and gas development offshore Western Australia

    Eni, Repsol press Maduro for more control to increase oil production from Venezuelan oil fields

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

  • Market Reports
    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Downstream

UNOC to invest $840m in oil and gas sector

venkat by venkat
February 21, 2020
in Downstream, News
0
UNOC to invest $840m in oil and gas sector

Uganda National Oil Company (UNOC) plans to invest $840million in joint infrastructure projects in the country’s oil and gas sector, said its Chief Executive Officer, Proscovia Nabbanja.

Nabbanja, who signed a memorandum of understanding with Stanbic Bank on Feb. 05 to facilitate the two entities collaborate in training local entrepreneurs a head of oil developments told The Independent in an interview that the company plans to invest big.

She said a substantial amount of money either through the national budget or loans will go towards investments in the refinery, pipeline, storage tank, bulk trading as well as the industrial park.

“We hope that this level of equity will be spread in a period of five years in our national budgets to ease pressure on the country’s debt burden,” she said. “The investment will be based on the medium–term expenditure framework.”

Out of the planned $4bn and $3.5bn investment in the oil refinery and pipeline, UNOC will provide $480million and $258million towards their development, respectively. The company will also invest $71.4million out of the planned $1.6million in the storage tanks.

However, UNOC will singly invest $12million in oil and gas bulk trading and $19million in the industrial park. Nabbanja said UNOC will also need approximately Shs80bn annually to cater for day-to day operations.

This development comes as the government remains optimistic that its standoff with the joint venture partners – Tullow Oil, Total E&P Uganda and China National Offshore Oil Corporation (CNOOC) – will be resolved soon and the Final Investment Decision reached before April, 2020. Reaching the FID will unlock more than $20bn investment in the nascent industry.

Uganda discovered oil deposits estimated to be 1bn recoverable barrels in 2006 but have repeatedly stumbled over disagreements between the government and oil companies.

The latest was a tax dispute that threw the whole project into limbo, holding up the commencement of commercial production. The disagreement emerged from the transfer of assets between the three oil companies who are developing the fields.

Though Tullow announced to sell most of its interests in the Uganda project to its two larger partners, reducing its own stake to 11.76%, the government’s interest in the transaction to impose tax scuttled the deal.

Meanwhile, executives in the oil and gas industry say the delay to reach the FID in itself is a good opportunity for local companies to strengthen their capacity in terms of human resource and capital that would enable them tap into the industry once development begin.

Previous Post

Redexis acquires Cepsa 11,366 supply points for piped propane gas

Next Post

Gazprom and OMV introducing amendments to asset sale deal

Related Posts

Exploration Development

North Sea oil, gas industry to reach significant milestones due to investment increases, exploration, production success

September 7, 2023
Oceaneering introduces new USV service for remote survey work at Offshore Europe 2023
Exploration Development

Oceaneering introduces new USV service for remote survey work at Offshore Europe 2023

September 7, 2023
Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana
News

Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana

September 7, 2023
Downstream

Anticipated $4.21 Billion Growth In AI Adoption In Oil & Gas

September 6, 2023
Azerbaijan: Inauguration of the Absheron gas field
News

Azerbaijan: Inauguration of the Absheron gas field

September 3, 2023
Equinor capitalizes shares
Drilling

Equinor awards COSL Offshore Management two drilling contracts worth $369 million

September 3, 2023
Next Post
Gazprom and OMV introducing amendments to asset sale deal

Gazprom and OMV introducing amendments to asset sale deal

Latest Post

Equinor capitalizes shares
Drilling

Equinor awards COSL Offshore Management two drilling contracts worth $369 million

September 3, 2023
Petronas hires Maersk semi-submersible for Suriname exploration
Exploration Development

Cheiron makes new oil discovery in mature Egyptian exploration well

September 2, 2023
Bahamas Petroleum signs rig contract for exploration well
Drilling

Neptune Energy begins drilling at first Egyptian exploration well

September 2, 2023
Baker Hughes launches AI software to optimise oil and gas production
Downstream

Wintershall Dea, partners safely install additional subsea template for offshore Norwegian oil, gas field

September 2, 2023
Empire Petroleum buys US oil and gas assets from ExxonMobil
Exploration Development

Texas regulator assesses over $2 million in fines against oil, gas operators

September 2, 2023
Exploration Development

Texas regulator assesses over $2 million in fines against oil, gas operators

September 2, 2023
Oil&Gas Advancement

About Us

Oil and Gas Advancement is an information centric knowledge sharing platform focused on the latest news in the B2B oil and gas sector bringing to our audiences B2B updates on upstream, downstream, pipeline and transport categories providing information on the latest projects and developments.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2018 Copyright Valuemediaservices 2018 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2018 Copyright Valuemediaservices 2018 All rights reserved.