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Rwanda confirms first oil find in Lake Kivu

  • Rwanda has discovered 13 oil wells in Lake Kivu, announced by the Rwanda Mines, Petroleum, and Gas Board's CEO, Francis Kamanzi, on January 15, 2025.
  • Exploration efforts resumed after Black Swan Energy identified parts of Eastern Kivu as promising for oil and gas production.
  • Initial studies confirmed the presence of oil at depths of up to 480 meters, but further drilling is needed to assess commercial viability, costing over $15 million per well.
  • Parliamentarians view the discovery as a transformative opportunity for Rwanda's energy sector, emphasizing the need for investment and thorough research.
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