By Watchdog reporter
Uganda has on Tuesday signed petroleum production licenses with three oil companies.
During the signing ceremony at Ministry of Energy offices in Kampala, the minister said
The event was attended by top energy officials as as top executives from Tullow, Cnoc and Total E&P.
Energy Minister Irene Muloni signed on behalf of the government of Uganda.
New Petroleum Authority boss Ernest Rubondo said production licenses have been issued for a total of 13 oil fields.
He said the ministry received 31 applications since the first call in 2010, out which they chose the best.
Dr Rubondo said a Ugandan team reviewed and negotiated plans and reservoir documents with the oil companies in order to come up with a win win position.
The government has given the oil companies up to 2020 to pump out the first oil and 18 months from today to make the investment decision.
A total of 200,000 barrels will be pumped out of Ugandan wells every day.
The country is not expected to make up to $1.5 billion per year.