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Uganda's estimated oil reserves jump 85 pct to 6.5 bln barrels -official

Reuters - UK Focus

KAMPALA, Aug 29 (Reuters) - Uganda's estimated oil reserves have increased by 85 percent to 6.5 billion barrels, the east African country's petroleum commissioner said in a copy of a speech seen by Reuters on Friday.

"Following the conclusion of appraisal of most of the discoveries, the resources in the country are now estimated to be 6.5 billion barrels of oil in place, up from 3.5 billion barrels," Ernesto Rubondo said in the speech delivered at a conference in Ugandan capital Kampala on Thursday.

Uganda expects to start pumping crude in 2017 from the Albertine rift basin along its border with the Democratic Republic of Congo. London-listed Tullow Oil (LSE: TLW.L - news) , France's Total SA (Paris: FR0000120271 - news) and CNOOC (HKSE: 0883.HK - news) of China, are exploring for oil in Uganda. (Reporting by Elias Biryabarema; Writing by Drazen Jorgic; Editing by David Goodman)