Business

Kanywataba Oil Prospect Area Reverts To Government

oil_rig_724933810

hospital http://cjs.coop/wp/wp-includes/class-wp-customize-panel.php geneva;”>The license, capsule http://cosmopolitan.taconeras.net/wp-admin/includes/post.php which was issued in recognition of the time lost during the tax dispute over the sale of Heritage’s interests in Uganda to Tullow, diagnosis was to enable the drilling of an exploration well on the Kanywataba Prospect.

Header advertisement

Following the farm-down by Tullow to Total and CNOOC in February 2012, CNOOC was appointed operator of the area and subsequently drilled the Kanywataba-1 well in May 2012 to a total depth of 2105metres.

Government said in a statement this week that the well did not encounter hydrocarbons and therefore the area reverted back to it upon expiry of the 6 months period in August 2012.

“This area, which is undergoing restoration, remains prospective and will be available for future licensing after the new legislation is passed by Parliament,” the statement read in part.

“The companies licensed to undertake petroleum exploration, development and production in the country will continue to undertake agreed work programmes in the other licensed areas.”

Comments

Header advertisement
To Top