The Petroleum Authority of Uganda has made a decade of transformation and progress in the oil and gas sector in which it has given Ugandan companies work contracts and over twenty thousand Ugandans jobs there by boosting household incomes.
Established in 2015 Petroleum Authority of Uganda is mandated to regulate the exploration, production and utilization of Uganda’s petroleum resources and it’s achievements have been driven by institutional expansion and strong coordination with local and international partners.
Petroleum Authority of Uganda mandate is focused on striking a balance between protecting national interests and maintaining investor confidence and for the last nine years, the authority has produced petroleum resources report documenting shifts in reserves and production forecasts.
Speaking during the Breakfast meeting on NBS TV, Gloria Ssebikari the Corporate Affairs Manager highlighted the key achievements and milestone by the authority within a decade and how Uganda’s oil is transforming the country by building critical oil infrastructure by balancing oil development and nature and establishing strong institutions.
” From a governance perspective we have set up strong institutions and systems to make sure we operate in best practice, we have a board in place and our strategic direction is very clear and our goal is to make sustainable petroleum industry even beyond our first oil, said Gloria Ssebikari. “We have also made a lot of progress in the oil and gas resources at Tilenga and Kingfisher projects which are near to completion because of our overnight role and regulatory framework”, added Gloria Ssebikari.
The last ten years Petroleum Authority of Uganda has implemented three strategic plans aligned to the national development plans 2, 3 and 4 and developed more than 48 regulatory manuals and guidelines to strengthen operational compliance across the sector and this approach was designed to reduce the uncertainty for investors by ensuring companies always know the rules of engagement and timelines to work with.
Uganda’s choice to establish distinct institutions such as Petroleum Authority of Uganda and Uganda National Oil Company did not come by accident but as a choice informed by years of careful study from successful cases and those facing ‘ the oil curse’ which is a common thread among those who failed was absence of strong, independent regulatory bodies and countries that succeeded invested early in separating policy, regulation and commercial operations.