Petroleum Authority to approve Shs21 trillion in oil contracts

Crude oil containers in Bullisa District. Oil money will flow into the economy from foreign and domestic companies that will be awarded Tier 1, Tier 2 and Tier 3 contracts. PHOTO | FILE

What you need to know:

  • The approved contracts follow the launch of oil projects in April 2021 that paved the way for licensed oil companies including Total Energies, and CNOOC to conclude the procurement process and grant contracts for the Tilenga and Kingfisher projects. 

The Petroleum Authority of Uganda, the key regulator of Uganda’s oil and gas resources,  is finalising the approval of contracts worth $6 billion (Shs21 trillion) for over 40 work packages, and contracts for the Tilenga, Kingfisher and the East African Crude Oil Pipeline (EACOP) projects that have been submitted by several licensees to the Authority. 

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