Uganda National Oil Company Dispels EACOP Project Funding Fears
softpower.ug, September 28, 2022 | Proscovia Nabbanja, the Chief Executive Officer of Uganda National Oil Company, says to ensure new reserves, an application was made to the ministry of Energy for an exploration license (Kasuruban).
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| File Photo/Courtesy: Proscovia Nabbanja, Chief Executive Officer, Uganda National Oil Company. |
While speaking at the 7th annual Uganda International Oil & Gas Summit in Kampala, Nabbanja disclosed a joint application for the pelican-crane block with CNOOC Uganda Limited.
“The two blocks have good potential for oil and gas,” she said.
On the East African Crude Oil Pipeline (EACOP), Nabbanja reiterated that the project is on course including the financing.
She named counterparts in Total Energies Uganda, CNOOC Uganda Ltd and Tanzania Petroleum Development Corporation (TPDC) as members of the EACOP Board, dispelling recent fears.
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| File Photo/Courtesy: Participants at the International Uganda Oil & Gas Summit held at Kampala Serena Hotel. |
In a keynote address, UNOC Board Chairman, Emmanuel Katongole, disclosed that they have the funding as shareholders in the East African Crude Oil Pipeline (EACOP).
Projects, he noted, will continue whilst ensuring that the environment is not degraded.
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| File Photo/Courtesy: Emmanuel Katongole, Board Chairman, Uganda National Oil Company (UNOC). |
Agreements regarding oil and gas, he said have clauses to ensure human rights are followed up and monitored regularly.
He also disclosed the grand plan to plant 40 million trees in response to the widespread environmental destruction due to energy poverty.
Irene Bateebe, the Permanent Secretary Ministry of Energy & Mineral Development, in her welcome remarks, communicated the Government’s commitment to the environment and preservation of biodiversity.
“We as a country, are committed to issues of transparency and accountability,” she reiterated.
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| Irene Bateebe, the Permanent Secretary Ministry of Energy & Mineral Development. |
Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda Monitors and Regulates the Petroleum Sector in Uganda (PAU UGANDA) said:
“We are living in extremely interesting times, and are a very privileged generation of Ugandans. There isn’t a single opportunity that Uganda has had to progress in terms of development like it has with the Oil and Gas sector.”
Philippe Groueix, the General Manager of Total Energies Uganda, said the Oil and Gas project will bring a positive economic impact on Ugandans and the surrounding population in the Tilenga Project areas of operation. Groueix reiterated Total Energies Uganda’s position in Uganda’s Oil & Gas sector.
“Total Energies is fully committed to carrying out the project in an exemplary manner, technically, socially, without compromising on respect to Human Rights and with total transparency,” he noted.
Hon. Amelia Kyambadde, the Senior Presidential Advisor on Industry, spoke on the Impact of Local Content in the Oil and Gas Sector.
She said the National Content Key pillars stem from the employment of Ugandans, provision of goods and services by Ugandan companies, and building the capacity of Uganda companies and citizens.
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| File Photo/Courtesy: Hon. Amelia Kyambadde, Senior Presidential Advisor, Trade & Industry making her submission at the Summit. |
Hon. Amelia re-echoed the need for Ugandan companies to get registered, qualified, and listed on the PAU Uganda National Supplier Database in order to supply Goods and services to Uganda’s Oil and Gas sector.
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