AN OVERVIEW OF UGANDA’S UPSTREAM PETROLEUM SECTOR. PRESENTATION OUTLINE. 1. Introduction 2. Developments in Uganda’s Oil and Gas Sector History of Exploration Results to-date Current status 3. The National Oil and Gas Policy of Uganda The Policy Framework
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2. Developments in Uganda’s Oil and Gas Sector
3. The National Oil and Gas Policy of Uganda
4. Investment opportunities in Uganda’s Hydrocarbon Industry
Aswa Shear zone
1. INTRODUCTION (1)
THE ALBERTINE GRABEN
Aswa Shear zone
1. INTRODUCTION (2)
LOCATION OF THE ALBERTINE GRABEN AND THE EAST AFRICAN RIFT SYSTEM (EARS)
1920 – 1950: PRELIMINARY EXPLORATION
1950 – EARLY 1980’s: STAGNATION
1980’s to Date: CONSISTENT AND MODERN EFFORTS
EXPLORATION AND PROMOTION
EXPLORATION AND PROMOTION Contd.
STATUS OF LICENSING
SEISMIC DATA COVERAGE
Most of the wells have encountered oil and/or gas
Confirmation of commercially exploitable quantities of oil and gas raises the following key issues:
Size of Reserves
Oil and Gas Revenue Management
Impact of Oil and Gas Activities
Contribution of Oil and Gas Resources to the Energy Mix
Public Anxiety and Expectations
To deal with the emerging challenges, a new policy, the National Oil and Gas Policy for Uganda has been put in place.
The Policy formulated through wide consultations and was enacted in February 2008.
The goal of the policy is to use the country’s oil and gas resources to contribute to early achievement of poverty eradication and create lasting value to society.
3. THE NATIONAL OIL AND GAS POLICY FOR UGANDA (3)
3. THE NATIONAL OIL AND GAS POLICY FOR UGANDA (4)
The policy recognizes the need to enhance the current institutional framework which was set up to facilitate the promotion and exploration for oil and gas.
The policy recommends setting up of the following three separate institutions:
3. THE NATIONAL OIL AND GAS POLICY FOR UGANDA (5) National Oil and Gas Policy for Uganda has been put in place.
A new petroleum legal framework - emplacement of a Resource Management Law, and a Revenue Management Law.
An efficient Resource Management system, through the creation of a sound Institutional Framework which separates Policy Setting and Business Promotion from Regulation of the Industry and Commercial Businesses.
Creation of a Directorate of Petroleum in the Ministry responsible for oil and gas; a Petroleum Authority of Uganda; and a National Oil Company.
Ensuring optimum national participation in oil and gas activities to cater for the local content.
4. National Oil and Gas Policy for Uganda has been put in place.INVESTMENT OPPORTUNITIES IN UGANDA’S HYDROCARBON SECTOR
Well liberalised economy,
Tax incentives on equipment,
Repatriation of income,
and regulatory framework.
5. CONCLUSIONS National Oil and Gas Policy for Uganda has been put in place.
1. Commercially Exploitable Reserves of oil and gas have now been confirmed in Uganda and the country is considering setting up a refinery.
2. The oil industry in Uganda has potential of providing a lot of investment opportunities to oil companies and other investors in the industry.
Thank You National Oil and Gas Policy for Uganda has been put in place.