Uganda+Natural+Gas

Executive Summary:
There will likely continue to be CNOOC and other Chinese investments in natural gas in Uganda's Mputa, Waraga, Kingfisher, and Nzizi regions because of the oil associated with it. CNOOC won the contract to develop Kingfisher Field in Lake Albert for USD 2 billion, and Kingfisher contains associated natural gas besides its vast amounts of oil. Also, Uganda plans on exploiting its natural gas as well as its oil to eventually provide enough revenue to keep its economy self sustaining; however in the meantime Uganda welcomes foreign investment to fund its resource projects. While no Chinese companies other than CNOOC invested in natural gas in Uganda, Uganda's estimated 93 billion cubic feet of gas likely will not go unnoticed by future Chinese investment opportunities.

Discussion:

 * Initial Thoughts: While there is plenty of emphasis on oil, Uganda's associated natural gas is likely to be exploited by the Chinese in the next five years. However no signs of Chinese investments in the past exist in preliminary research.**
 * China's National Offshore Oil Corporation (CNOOC) to start the development of the Kingfisher Field in Lake Albert basin for USD 2 billion.
 * Lake Albert rift has estimated 3.5 billion barrels of oil equivalent in place and 1.2 billion barrels are confirmed oil and gas recoverable.
 * Proven natural gas reserves were 500 billion cubic feet (Bcf) as of January 1, 2013.
 * The development of Kingfisher will also result in the production of gas, which will be used in power plants, Lokeris said, without elaborating.
 * **CNOOC is likely the biggest Chinese company involved in Ugandan natural gas**
 * **Uganda plans on using its revenues from gas as well as oil to eventually transform itself into a sustainable economy on its own.**
 * The amount of gas reserves is not yet ascertained because appraisal of the discoveries is still on-going but we have about 93 billion cubic feet of non–associated gas from the fields of Nzizi, Ngiri, Kasamene, Kigogole, Ngege, Jobi-Rii, Ngassa, Nsoga and Jobi East.
 * According to Mr Malinga the available associated gas could amount to about 192 million standard cubic feet - located in fields like Mputa, Waraga, Kingfisher and Nzizi.(Same Source)
 * The East African country has drilled 48 wells since 2002 with a 90 percent success rate, the ministry said, citing figures from the energy ministry.[[image:uganda_oil_gas_fields.png width="240" height="204" align="right" link="@http://www.bloomberg.com/news/2011-05-12/uganda-has-12-billion-cubic-feet-of-gas-reserves-ministry-says.html"]]