By Juma Nsubuga
The Minister of Energy and Mineral Development Dr Ruth Nankabirwa on behalf of Uganda government has signed an addendum Petroleum and a Production Sharing Agreement for Kanywataba with M/S Armour Energy Limited and also granted a petroleum exploration license to DGR Energy Turaco Uganda limited.
The agreement signing ceremony was held at the ministry of energy headquarters in Kampala.
Nankabirwa noted that the key elements in the TURACO production sharing Agreement including the petroleum exploration license with an acreage of 635 Square Kilometers of four years exploration period split into two exploration periods of two years each.
The petroleum exploration license awarded to TURACO block is in accordance with section 58 of the petroleum exploration development and production Act 2013.
About the signing of an ADDENDUM to KANYWATABA the minister said that the addendum will pave the way for second renewal of the exploration license which expires at the end of this month of May.
“My ministry received clearance from cabinet, the ministries of Finance, Planning and Economic Development together and Justice and constitutional Affairs for the signature of the production Sharing Agreement for Turaco contract Area” she said adding that ‘I would like to thank president Museveni for the guidance and support received during this licensing round and foresightedness in enabling progress of the developments in the sector leading to first production of oil in 2025’