The State House Investors Protection Unit Head, Col. Edith Nakalema has assured Ugandans that the government is committed to ensuring that the target of producing the first oil in 2025 is achieved.
“Government is not only committed to deliver the first oil but it is also looking forward to ensuring that the interests of Ugandans are projected so that they benefit from the oil,” she said.
Col. Nakalema made the remarks today during a joint media briefing with the Uganda National Oil Company (UNOC) held at the State House Investors Protection Unit Offices in Kampala.
She explained that as the unit, they are mandated to project every investment in the country including those in the oil and gas sector.
“Every investment should be protected to ensure steady progress of our motherland,” Col. Nakalema emphasised.
On her part, the UNOC’s Chief Executive Officer, Ms. Proscovia Nabbanja assured Ugandans that the country’s oil and gas sector is progressing well.
“A lot of work has been done and we should be able to meet the deadline of the first oil production come 2025,” Ms. Nabbanja said.
Ms. Nabbanja also clarified that the overall function of UNOC is to handle the Government of Uganda’s commercial interests in the petroleum sector and to ensure that the resource is exploited in a sustainable manner.
“Uganda’s confirmed petroleum resource base is currently estimated at 6.5 billion barrels of Stock Tank Oil-Initially-In-Place (STOIIP). Of this, between 1.4 to 1.7 billion barrels are estimated to be recoverable. Currently, only 40 percent of the Albertine Graben is licensed,” she said.
The CEO further disclosed that the government has already set up a commercialization plan that will ensure sustainability of petroleum production in the country.
The commercialisation plan involves the setup of the East African Crude Oil Pipeline (EACOP), the Kabalega Industrial Park and the Uganda Oil Refinery at Kabaale, Hoima District.
“The commercialisation plan for Uganda’s oil and gas resources is two-fold; a 60,000 barrel per day refinery and the EACOP, which will deliver crude oil to the international market,” she noted.
“The Kabalega Industrial Park is among UNOC’s key midstream projects. UNOC through the Uganda Refinery Holding Company leads its development, operationalization and management with a 51 percent shareholding. Its economic benefits include adding up USD 4.9 bn per annum to national GDP, creating a fiscal impact of USD 1.2 bn per annum and creating 35,000 job opportunities.”
On the other hand, Ms. Nabbanja asserted that UNOC solely operates the Jinja Storage Terminal, a 30-million-litre refined petroleum products storage facility in Jinja.
“Jinja Storage Terminal is a bonded storage facility that stores fuel for oil marketing companies to clients and keeps government strategic stock to ensure security of petroleum supplies,” she disclosed.
She also said that the government is developing another storage terminal in Namwabula, Mpigi and it will serve as a storage facility for both the government strategic reserves and provide fuel storage for oil marketing companies.
Sole Importation of Petroleum products:
Ms. Nabbanja informed the media that following the enactment of the Petroleum Supply (Amendment) Act, 2023, UNOC acquired the sole importation status in December 2023 and it will source petroleum products from the international Market and supply the oil marketing companies.
“The move is meant to ensure security of supply, ultimately reversing the past trend of price hikes triggered by shortages. It also eliminates middlemen whose margins affect prices.”
Ms. Nabbanja reassured Ugandans that the EACOP project as well as other oil and gas projects are being developed in accordance with the internationally accepted standards for managing environmental and social impacts.
“There are many socio-economic benefits from the oil and gas sector such as infrastructure development, improved welfare, skills transfer and employment.”
Usually I do not read article on blogs however I would like to say that this writeup very compelled me to take a look at and do so Your writing taste has been amazed me Thanks quite nice post
Your writing is a true testament to your expertise and dedication to your craft. I’m continually impressed by the depth of your knowledge and the clarity of your explanations. Keep up the phenomenal work!
I’ve bookmarked this for future reference. Such valuable information.
helloI really like your writing so a lot share we keep up a correspondence extra approximately your post on AOL I need an expert in this house to unravel my problem May be that is you Taking a look ahead to see you
토토리뷰: https://dyunews.com/
“Great post! Carpet cleaning is essential for maintaining a clean and healthy home or office environment. At Teppich Reinigung München, we offer comprehensive carpet cleaning solutions tailored to our clients’ needs. Thank you for sharing these useful insights.”
Hi my family member I want to say that this post is awesome nice written and come with approximately all significant infos I would like to peer extra posts like this
of course like your website but you have to check the spelling on several of your posts. A number of them are rife with spelling issues and I in finding it very troublesome to inform the reality on the other hand I will certainly come back again.
Appreciating the commitment you put into your site and detailed information you offer. It’s awesome to come across a blog every once in a while that isn’t the same outdated rehashed material. Fantastic read! I’ve saved your site and I’m including your RSS feeds to my Google account.
child porn
I like what you guys are up too. Such clever work and reporting! Keep up the superb works guys I have incorporated you guys to my blogroll. I think it will improve the value of my web site 🙂
I am often to blogging and i actually appreciate your content. The article has actually peaks my interest. I am going to bookmark your site and hold checking for brand new information.
Exactly what I was searching for, thankyou for posting.
Very interesting info !Perfect just what I was searching for! “Time is money.” by Benjamin Franklin.
Great – I should certainly pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or something, web site theme . a tones way for your client to communicate. Excellent task.
I always was concerned in this subject and still am, thanks for posting.
Thank you for every other informative blog. Where else may just I am getting that kind of information written in such a perfect way? I’ve a mission that I’m just now operating on, and I’ve been at the glance out for such info.
Sight Care
Fit spresso reviews
I have been surfing online more than 3 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. In my view, if all webmasters and bloggers made good content as you did, the web will be much more useful than ever before.
Cellucare
Lottery defeater reviews
Sightcare
Fitspresso reviews
Sight care review
Nano defense pro reviews
Lottery defeater review
Cellu care review
Cellucare reviews
You made some clear points there. I did a search on the issue and found most individuals will go along with with your site.
Some genuinely fantastic content on this site, appreciate it for contribution. “Once, power was considered a masculine attribute. In fact, power has no sex.” by Katharine Graham.
Hi my loved one! I want to say that this post is amazing, great written and include approximately all important infos. I’d like to look more posts like this .
Sumatra Slim Belly Tonic is a dietary supplement aimed at supporting weight loss and metabolic health. It features natural ingredients like herbs and vitamins that may boost metabolism, reduce appetite, and improve digestion. Marketed as a daily tonic, it helps promote a slimmer belly by enhancing the body’s fat-burning processes. Always review the ingredient list and consult with a healthcare professional before starting any new supplement.
This is a very good tips especially to those new to blogosphere, brief and accurate information… Thanks for sharing this one. A must read article.
Lottery defeater software reviews
Fitspresso reviews
Lottery defeater software
Lottery defeater system
Opini pix
Opinipix é golpe
Ikaria Lean Belly Juice
Fitspresso
Fitspresso reviews
Fitspresso review
Fitspresso review
Dentavim review
Fitspresso reviews
Fitspresso is a brand-new natural weight loss aid designed to work on the root cause of excess and unexplained weight gain. The supplement uses an advanced blend of vitamins, minerals, and antioxidants to support healthy weight loss by targeting the fat cells’ circadian rhythm
Fitspresso reviews
Fitspresso reviews
Fitspresso review
Fitspresso reviews
Fitspresso
Ikaria Lean Belly Juice reviews
Greetings! I’ve been following your web site for a long time now and finally got the courage to go ahead and give you a shout out from Porter Texas! Just wanted to say keep up the good job!
Zencortex review
Lottery defeater system review
Neotonics gummies reviews
Dentavim
Dentavim is a dietary supplement formulated to support oral health and improve dental hygiene. With increasing awareness of the importance of maintaining good oral health, Dentavim has emerged as a popular choice for individuals seeking to enhance their dental care regimen. This article provides a detailed overview of Dentavim, including its ingredients, benefits, potential side effects, and overall effectiveness.
You must take part in a contest for the most effective blogs on the web. I will advocate this website!
Lottery defeater review
I’ve been absent for some time, but now I remember why I used to love this site. Thanks , I¦ll try and check back more often. How frequently you update your site?
Sightcare review
You have mentioned very interesting points! ps nice site. “Choose your friends carefully. Your enemies will choose you.” by Yassir Arafat.
Pineal XT review
Fitspresso is a brand-new natural weight loss aid designed to work on the root cause of excess and unexplained weight gain. The supplement uses an advanced blend of vitamins, minerals, and antioxidants to support healthy weight loss by targeting the fat cells’ circadian rhythm
Youre so cool! I dont suppose Ive read something like this before. So nice to seek out any person with some authentic ideas on this subject. realy thank you for starting this up. this web site is one thing that’s needed on the internet, somebody with somewhat originality. helpful job for bringing one thing new to the internet!
Kerassentials reviews
Fitspresso is a brand-new natural weight loss aid designed to work on the root cause of excess and unexplained weight gain. The supplement uses an advanced blend of vitamins, minerals, and antioxidants to support healthy weight loss by targeting the fat cells’ circadian rhythm
sugar defender drops is a potent and effective way to support healthy blood sugar levels throughout the day. As your body adjusts to the ingredients, you’ll notice reduced hunger, increased energy, and improved blood sugar readings.
Cellucare review
Fitspresso review
Fitspresso reviews
Terrific work! That is the type of information that are supposed to be shared around the internet.
Disgrace on Google for no longer positioning this post higher!
Come on over and talk over with my web site . Thanks =)
Feel free to surf to my site ULTRA K9 PRO
These are truly great ideas in about blogging. You have touched some pleasant factors
here. Any way keep up wrinting.
Look at my web-site :: billionaire brain wave
Java Burn review
Lottery defeater software reviews
Fitspresso reviews
Fitspresso review
After looking into a few of the blog posts on your
website, I truly appreciate your way of blogging.
I book-marked it to my bookmark webpage list and will be checking back in the near future.
Please check out my web site too and let me know your opinion.
Look at my web blog; billionaire brain wave review
Lottery defeater reviews
Neotonics reviews
Hello there, just became alert to your blog through Google, and found that it’s truly
informative. I am gonna watch out for brussels.
I’ll appreciate if you continue this in future. Numerous people will
be benefited from your writing. Cheers!
Here is my website – billionaire brain wave program
I am not sure where you are getting your information, but
good topic. I needs to spend some time learning more or understanding more.
Thanks for excellent info I was looking for
this information for my mission.
Also visit my website :: testoprime vs testosil
Purevive review
THE GROWTH MATRIX REVIEW
Fitspresso review
Neotonics review
Lift detox
provadent
Lottery defeater system reviews