The discovery of vast oil reserves in Uganda has caused excitement across the country, and more than a touch of anxiety too. Energy companies have recently found more than 700m barrels of commercially viable oil in the pristine Albertine Graben region, representing the first major petroleum strike in east Africa. Tullow Oil, the FTSE 100 company leading the exploration, believes the exploitable deposits could exceed 1.5bn barrels, reserves comparable to Equatorial Guinea and the Republic of Chad .
If managed well, the petrodollars could transform the economy of the landlocked country, potentially doubling the state’s revenues, creating thousands of jobs and help realise President Yoweri Museveni’s dream of industrialising the country….
More @:http://www.guardian.co.uk/world/2009/aug/25/uganda-oil-find-energy-companies