Oil & Gas

Uganda is gearing up to launch its third petroleum exploration licensing round in the fiscal year starting July 2025, marking a renewed focus on its energy sector. The initiative aims to expand oil and gas exploration activities beyond the Albertine Graben basin, which has been the center of the country’s petroleum efforts. Energy and Mineral Development Minister Ruth Nankabirwa announced the plan, emphasizing Uganda’s ambition to establish itself as a major player in Africa’s energy landscape.

The announcement coincides with progress in oil production within the Albertine Graben basin, where crude oil extraction is set to begin after years of delays. Oil was first discovered in the region nearly two decades ago, but challenges in infrastructure and logistics have hindered production. Meanwhile, geologists are conducting exploratory surveys in northern and northeastern basins, signaling potential expansion into new oil-rich areas.

In addition to the focus on petroleum, the government is reviving operations at the historic Kilembe copper mine, which has been dormant since the 1970s. The mine holds an estimated 4 million tonnes of ore containing copper and cobalt, offering significant economic potential. Minister Nankabirwa confirmed that negotiations with a tender winner are in the final stages, with an official announcement expected soon to kickstart mining activities.

These developments reflect Uganda’s broader strategy to leverage its mineral and energy resources for economic growth. The simultaneous focus on oil exploration and copper mining underscores the government’s commitment to diversifying the economy and attracting investment in its natural resource sector.