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Uganda plans to join OPEC after first oil fields flow in 2020: minister

中国石化新闻网 13 Nov 2017 02:36

Kampala (Platts)--27 Sep 2017 919 am EDT/1319 GMT

Uganda will seek to join OPEC once the East African nation starts pumping crude out from Lake Albert oil fields along the western border with the Democratic Republic of Congo at the end of the decade, Uganda's energy and minerals minister Irene Muloni said Wednesday.

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The Ugandan government took the decision to join OPEC after consultations with other existing member states, including Equatorial Guinea, Muloni told an oil and gas conference in Kampala.

"When we start producing our oil, we will join OPEC, to reap the benefits from being a member of the organization, these include stability of prices," she said. "We remain on course to deliver first oil in 2020."