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Uganda Gives Oranto Two-Year Oil Extension Due to Covid Pandemic
Uganda said it extended an oil-exploration license to Nigeria’s Oranto Petroleum Ltd. by two years after the company asked for compensation for time lost during the Covid-19 pandemic. The permit had been due to expire Dec. 29, and was initially granted to scour the Ngassa Shallow and Deep areas in the western Hoima and Kikuube districts in 2017, Solomon Muyita, the Energy Ministry spokesman, said in an email statement. Extension of the permit is in line with the country’s drive to boost recoverable oil from current levels of 1.4 billion barrels, according to the statement. A production sharing agreement, ... (full story)