Big strides towards boosting local participation in Uganda’s Oil and Gas Sector have been achieved. The Petroleum Authority of Uganda PAU made this disclosure recently in its X handle formerly twitter.
PAU has stated that since 2021, the Nation’s oil company has given a green light to contracts with total valued of about USD 7.16 billion which are meant to be part of ongoing Tilenga and KingFisher projects in the country
According to the PAU nearly USD 1.8 billion (that’s around UGX 7 trillion!) of these contracts have gone straight to Ugandan companies representing 25% of the entire total contract sum.
“It’s all part of our commitment to fostering National Content Participation. These contracts are already underway, driving growth, prosperity and lasting value for our nation,” PAU stated
Local companies’ participation in ongoing Tilenga – Kingfisher project is a very important key factor for empowerment of local labour and technology transfer in the oil and gas sector which will invariably reduce unemployment directly impacting skill acquisition to the youths.
In a recent revelation made by the Uganda Ministry of Energy and Mineral Development Ms Ruth Nankabirwa, She stated that Uganda is currently coasting with four existing foremost oil and gas projects
These projects as highlighted by the oil and gas minister include: Tilenga and Kingfisher projects in the upstream sector which are expected to gulp $6-8 billion dollars, The EACOP project valued at about $5 billion dollars and $4 billion dollar Uganda Refinery Project in the midstream sector.
Other major projects are the Kingfisher Development Area and Natural Gas Conversion Facility and construction of Kabalega Airport and Logistic Hub.
“These projects combined with the Government investment in supportive infrastructure, signify an investment of approximately US$20 billion dollar,” Minister of Energy and Mineral, Ms Ruth posited.
