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#1: HOW MUCH OIL HAS BEEN FOUND IN THE ALBERTINE GRABEN? To date, 6.5 billion barrels of oil have been confirmed in the 21 oil and gas discoveries made in the Albertine Graben, out of which 1.4 billion barrels is estimated as recoverable. This will be at a planned peak production rate of about 230,000 barrels of oil per day. As Uganda undertakes licensing rounds, there are hopes of discovering more oil, given that in the previous exploration, Uganda has had an 88% success rate of finding oil, compared to a 25% global average. SOURCE: Petroleum Authority of Uganda #2:…
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From the time Uganda hit the first commercially viable oil finds at Mputa-1 well on 6th January 2006, the word on everyone’s lips has been “first oil”. Cabinet in 2008 passed the National Oil and Gas Policy (NOGP) 2008 which laid out a path for ensuring that Uganda’s oil and gas resources would be dedicated to poverty eradication and the creation of lasting value to society. This would be possible through “high standards of transparency and accountability in licensing, procurement, exploration, development and production operations as well as management of revenues from oil and gas.” Pursuant to the NOGP,…
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First, for the uninitiated, what exactly is the role of the Petroleum Authority of Uganda? What does regulating and monitoring the petroleum sector to create lasting value entail? How exactly do you achieve this– what is involved? First of all, it is essential to recognise that the Petroleum Authority of Uganda (PAU) is one of the three institutions of government responsible for stewarding the oil and gas sector in the country. The other two institutions are, the Ministry of Energy and Minerals Development (MEMD) which is in charge of policy as well as licensing companies in the sector, and the…
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Congratulations upon being reappointed by His Excellency for a second term. From a Board perspective, how would you summarise the PAU’s journey in its first five years? I must say that I am privileged to be reappointed for a second term, after chairing the founding Board of this Authority four years ago. I and my team have been privileged to have the opportunity to lead, what I can say, is Uganda’s very first petroleum regulatory agency. As such, we are proud to be part of our country’s history and we do pledge to do everything within our ability to…
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