Uganda plans a new round of bidding for oil exploration.

Uganda will open a New licensing round for oil exploration in fiscal year 2026/27in yet another movement to expand its energy resource baseThe announcement was made by Minister of Energy and Mineral Development, Ruth Nankabirwa, during a conference with industry representatives. This will be the third round of bidding in the African country aimed at exploration hydrocarbonsAccording to the government, the new round will offer exploratory blocks in regions such as the Albertine Graben and other basins considered frontier areas, with potential for new oil discoveries. The strategy comes at a time when Uganda is preparing to begin its commercial oil production later this year., after years of project and infrastructure development in the sector. With the expansion of exploratory areasthe country seeks attract new international investments and strengthen its position as emerging oil producer in AfricaThe expectation of Ugandan government that new discoveries of exploratory oil wells also contribute to increasing future production and to boost economic growth, expanding the relevance of energy sector in the country.

This text was translated by machine from Brazilian Portuguese.