register now for free unlimited access to reuterscom register kampala sept 27 reuters  uganda plans to hold its third oil block licensing round next year its energy minister said on tuesday inviting companies to explore for petroleum that could potentially boost uganda’s economic output uganda discovered crude oil reserves in the albertine rift basin near the border with democratic republic of congo in 2006 and has previously held two licensing rounds but a large portion of basin remains unexplored as part of the strategies to exploit the oil and gas resources in a sustainable manner the country is announcing the third licensing round in 2023 and urges the oil companies to take interest in this licensing round minister of energy and mineral development ruth nankabirwa ssentamu told an oil and gas conference government geologists estimate the countrys confirmed reserves at 65 billion barrels of oil of which 22 billion of this recoverable in february totalenergies ttefpa and its partner china national offshore oil corporation 0883hk signed a final investment decision with uganda and tanzania to kickstart investments worth more than 10 billion to produce and export ugandas crude part of that investment will involve a 35 billion pipeline that will help ship landlocked ugandas crude to the world markets via a port on tanzanias indian ocean coast reporting by elias biryabarema writing by george obulutsa editing by james macharia chege