Uganda News: Tullow Oil to invest in Uganda’s oil industry

NAIROBI, Kenya — Months of unseemly wrangles have delayed Uganda's much-touted oil production but now it is set to begin.

More from GlobalPost: South Sudan halts oil production as talks falter

Tullow Oil, a spectacularly successful oil exploration company that has discovered large reserves in Uganda and Ghana in recent years, says that it has signed production sharing agreements with Uganda's government paving the way for a $10 billion investment in the country's nascent oil industry.

More from GlobalPost: Uganda News: Kampala traders protest interest hike

The next step will be for Tullow, a relatively small company (in the multi-billion dollar world of oil), to finalize its new partnership with France's Total and China's CNOOC that will enable the building of a refinery and an export pipeline from the Lake Albert oil fields.

It is estimated there may be as much 2.5 billion barrels of oil, enough crude to supply all of Uganda's domestic needs with more left over for export to neighboring countries.

More from GlobalPost: Uganda: New front in war on corruption

Sign up for our daily newsletter

Sign up for The Top of the World, delivered to your inbox every weekday morning.