Uganda’s petroleum deposits are far in excess of what the exploration companies had expected making oil exploration promising.
Mr Reuben Kashambuzi, the Commissioner for Petroleum Exploration and Production Department at Entebbe said that the newly discovered flow rate was “exceedingly exciting” because it was eight times more that the expected rate. The well has three hydrocarbon zones, that will all be eventually flow-tested.
At the cost of $70 a barrel, the average current price, 4,200 barrels would generate about $294,000 (Shs546 million a day) and Shs199. 5 billion annually just from one well.
He said Hardman’s geologists had anticipated the first zone, (the bottom most), to gush only 1,000 barrels per day at its maximum flow rate. Tests at the beginning of last week, however, confirmed a slightly larger amount of 1,500 barrels per day.
 By Kisibo Jackie
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