Uganda will initiate its third oil exploration licensing round in the 2025/2026 fiscal year, according to Energy and Mineral Development Minister Ruth Nankabirwa.
The new licensing round follows Uganda’s ongoing efforts to expand its oil and gas exploration areas. Nankabirwa confirmed that the government has opened up additional regions and plans to offer new oil and gas exploration licenses.
Uganda’s crude oil discovery, located in the Albertine Graben basin near the border with the Democratic Republic of Congo, was made nearly 20 years ago. However, production has been delayed and is now expected to commence this year.
The minister further highlighted that in August, government geologists began conducting preliminary surveys for potential oil deposits in two new basins located in northern and northeastern Uganda.
However, Nankabirwa did not clarify whether the exploration areas in the upcoming licensing round would be in these new basins or within the well-known Albertine Graben.
In addition to the oil exploration initiative, Nankabirwa announced that Uganda had selected a winner for a tender to redevelop the Kilembe copper mine, situated near the Congo border. The mine, which has been inactive since the early 1970s, is estimated to contain about 4 million tonnes of ore, with significant amounts of copper and cobalt.
“We are now in the final stages of negotiations and will soon announce the completion of the process,” Nankabirwa stated.