Uganda is preparing to open a new oil exploration licensing round in the 2026/27 financial year as it seeks to attract fresh investment into its upstream sector and expand its resource base. The plan was confirmed by government officials in April 2026, signalling renewed momentum in the country’s energy strategy, as reported by Reuters.
The licensing round will offer several exploration blocks to international oil companies, building on Uganda’s existing discoveries in the Albertine Graben region. Authorities say the move is aimed at unlocking additional reserves and sustaining long-term production growth as the country advances toward first oil from its flagship projects.
Uganda has already secured major investments from global energy firms including TotalEnergies and CNOOC, which are developing the Tilenga and Kingfisher fields alongside the East African Crude Oil Pipeline (EACOP). The new licensing round is expected to complement these developments by expanding exploration activity.
Officials say the initiative forms part of a broader push to position Uganda as a competitive oil investment destination, with improved regulatory frameworks and fiscal terms designed to attract new entrants. Analysts note that timing the round ahead of first oil could enhance investor interest, particularly as global energy firms continue to diversify supply sources.
The move highlights a wider trend across Africa, where countries are reopening exploration rounds to capitalise on sustained demand for hydrocarbons while balancing long-term energy transition goals.
