Page 12 - AfrOil Week 30 2022

AfrOil POLICY AfrOil

Museveni has said he will not subsidise domestic fuel prices (Photo: op.go.ug)
In Kampala, petrol is now selling at a record insisted his government will not intervene in the
price of over $1.70 per litre (about $6.90 per gal- economy by cutting taxes or subsidising certain
lon) and is even higher in some other parts of comodities in order to reduce retail prices for
the country. basic goods.
Uganda’s annual inflation rate rose to 6.8% in In an address on July 20, he said government
June up from 6.3% the previous month. Author- intervention along these lines would encourage
ities blame inflationary pressures mostly on the people to continue to consume without econo-
Russia-Ukraine war. mising, thus deepening the country’s economic
Meanwhile, President Yoweri Museveni has woes. ™

PROJECTS & COMPANIES
Eni, Sonatrach report new oil discovery in

RODW-1 well in North Berkine basin

ALGERIA ITALY’S Eni and its partner Sonatrach, the
national oil company (NOC) of Algeria, said on
July 25 that they had made a new hydrocarbon
discovery in Rhourde Oulad Djemaa Ouest-1
(RODW-1), an exploration well drilled within
the research perimeter of Sif Fatima II, a conces-
sion in the Berkine North basin.
Eni announced the discovery in a statement,
noting that the partners had encountered both
crude oil and associated gas in the Triassic sand-
stones of the Tagi reservoir. The well yielded
1,300 barrels per day (bpd) of oil and about 2mn
cubic feet (56,640 cubic metres) per day of asso-
ciated gas during production testing, the state-
ment said. RODW-1 was drilled in the research perimeter of Sif Fatima II (Photo: Sonatrach)
RODW-1 is the third well drilled within
the research perimeter of Sif Fatima II. It fol- the successful appraisal of the HDLS-1 well at
lows the discovery of additional crude oil and Sif Fatima II. (The Zemlet el Arbi and Sif Fatima
associated gas reserves at the HDLE-1 well in II concessions are adjacent to each other. Eni
Zemlet el Arbi, another concession within the said in March that HDLE-1 might hold around
Berkine North basin, in March of this year and 140mn barrels of oil in place, or OIP.)

P12 www. NEWSBASE .com Week 30 28•July•2022