Uganda National Oil Company (Unoc) is any time expected to announce a selected strategic partner for exploration of the Kasuruban oil block at a time when the state-owned firm is reaching a critical period of its licence, which carries huge financial risks considering the low risk appetite among industry’s majors.
As per its licence, Unoc is entering the second exploration phase of operating its own asset, which involves re-processing existing 2D seismic data and drilling at least one exploratory well, the company said in a statement last month.
