Uganda revised its own oil reserve estimates

A commissioner from the National Institute for Petroleum Exploration and Production in Uganda told Reuters in Kampala on Monday that Uganda has officially revised its oil reserve estimates from 2.5 billion barrels to 3.5 billion barrels.

In 2006, Uganda discovered a commercial oil and gas field with an estimated 2.5 billion barrels of reserves in an area bordering the border of the Democratic Republic of Congo in the western part of the country. However, this new discovery has not yet been developed.

The Commissioner of Oil Exploration and Production of Uganda said: “We have been doing a lot of evaluation on the discovery wells in blocks 1 and 2 over the past few months. Reserves are constantly increasing. Now we can confirm Uganda has about 3.5 billion barrels of oil reserves."

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