Exploration company Tullow Oil said today it has made a new oil find in Uganda that contained the thickest segment of oil-bearing rock found so far in the northern part of the Lake Albert basin. This is the area where most of Uganda's drilling has occurred.
Tullow said the success of the Kasamene-2 well would help it fast-track the development of the Kasamene field.
Uganda's Energy Minister Hillary Onek has criticised Tullow for not starting oil production sooner.
'Encountering the largest net pay thickness in Butiaba to date is an outstanding result, confirming the lateral quality and extent of the Victoria Nile Delta reservoirs,' Paul McDade, Tullow's chief operating officer said.
Mr McDade and Tullow CEO Aidan Heavey are in Uganda to try and persuade the government to allow it to pre-empt partner Heritage Oil's sale of its Uganda interests to Italy's ENI .
However, Onek said yesterday that he would block Tullow's bid as it would give the company an effective monopoly of Uganda's oil industry.
