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Uganda to sign memo with oil firms over production-ministry

Reuters - UK Focus

KAMPALA, Feb 6 (Reuters) - Uganda will sign a memorandum of understanding (MoU) on Thursday with Britain's Tullow Oil (LSE: TLW.L - news) , France's Total (NYSE: TOT - news) and China's CNOOC (HKSE: 0883.HK - news) , a vital step towards starting oil production in the African nation, an Energy Ministry spokesman said.

East Africa's third-largest economy struck hydrocarbon deposits in 2006 but commercial production has been delayed and is not expected to start until 2016 at the earliest. Analysts blame the delay on negotiations over a planned refinery.

"It's the signing of the MoU between the Ugandan government and the three oil companies," ministry spokesman Bukenya-Matovu Yusuf told Reuters, after the ministry issued an invitation to a news conference regarding the MoU.