Page 20 - AfrOil Week 33

AfrOil NEWS IN BRIEF AfrOil

In yet another decision supporting the devel- Uganda’s commitment to join the EITI was sees only benefit for Uganda in committing to
opment of the DRC’s hydrocarbons industry, first made in the 2008 National Oil and Gas Pol- the EITI. Writing in support of EITI implemen-
President Félix Antoine Tshisekedi requested its icy and was reiterated in the updated 2012 Oil tation, Total E&P Uganda – an active participant
Minister of Hydrocarbons, Hydraulic Resources and Gas Revenue Management Policy. Partici- in Uganda’s Multi-Stakeholder Group – under-
and Power and its Minister of Finance to fast- pation in the EITI is also identified in the 2019- scored the importance of contract transparency
track legal processes and permits pertaining 2024 Domestic Resource Mobilisation Strategy. in contributing to a transparent and accountable
to the valorisation of the natural gas produced In January 2019, the Ugandan Government sector. “We look forward to working with gov-
onshore by Perenco. The decision was taken approved the decision to present a candidature ernment, industry and civil society partners to
at the latest Council of Ministers last week in application, which was submitted in July 2020. support EITI implementation through partici-
Kinshasa. Uganda’s Minister of Finance, Planning and pation in Uganda’s Multi-Stakeholder Group,”
The move is expected to result in the moneti- Economic Development, Matia Kasaija, said: said Total E&P Uganda’s General Manager Pierre
sation of natural gas through power generation, “The decision to join the EITI was informed by Jessua.
especially to address the DRC’s energy deficit the appreciation of the value of transparency Uganda’s initial disclosures in terms of the
and provide stable supply of power to its boom- as we progress our plans to develop Uganda’s 2019 EITI Standard will need to be made within
ing mining industry. natural resource wealth. We believe that this 18 months of being admitted as an EITI imple-
“We are extremely optimistic about the future initiative has the potential to strengthen tax col- menting country.
of oil & gas in the DRC given current political lection, improve the investment climate, build EITI, August 12 2020
support for the industry. While market-driven trust among sector stakeholders and help create
policies are needed to ensure investments in gas lasting value from our mineral and petroleum Nigeria’s DPR to create
monetisation, an enabling environment is key resources.”
to unleashing the massive potential of the DRC As a part of the EITI sign-up process, Uganda opportunities to enable
and the energy industry is open to supporting formed a multi-stakeholder group (MSG) in
the DRC,” stated NJ Ayuk, Executive Chairman March 2019, composed of government, industry business in oil, gas
at the African Energy Chamber. and civil society representatives.
African Energy Chamber, August 17 2020 Civil society advocacy has been an impor- industry, director says
tant part of Uganda’s journey to join the EITI.
Uganda joins EITI “Civil society has advocated the operationalisa- The Department of Petroleum Resources (DPR)
tion of the policy objectives of joining EITI since has promised to use its regulatory framework
The EITI Board has approved Uganda’s applica- the promulgation of Uganda’s National Oil and to continue to create opportunities and enable
tion to join the EITI, making it the EITI’s 54th Gas Policy in 2008 and the Petroleum Revenue businesses in the oil and gas industry.
member country and the 26th in Africa. Management Policy in 2012,” said Onesmus A statement by Paul Osu, the Head, Pub-
EITI Board Chair, Helen Clark, welcomed Mugyenyi, Deputy Executive Director of Advo- lic Affairs in DPR, on Sunday in Lagos said
Uganda to the EITI community: “EITI imple- cates Coalition for Development and Environ- the agency’s Director, Auwalu Sarki, gave the
mentation can help lay the foundation for trans- ment (ACODE) and a civil society member of assurance at the 45th Virtual Anniversary of
parent and accountable management of the Uganda’s Multi-Stakeholder Group. “It is there- the Nigerian Association of Petroleum Explora-
country’s natural resource wealth. We welcome fore our pleasure to see that government has tionists (NAPE). Sarki said that the DPR would
Uganda as an implementing country and look followed through with this policy commitment. collaborate with all players to drive growth and
forward to the EITI promoting inclusive public EITI implementation provides an opportunity eliminate bottlenecks to attract investments.
debate.” for deepening transparency and accountabil- He said that the topic of the anniversary lec-
Transparency is key to ensuring that poten- ity in the management of Uganda’s oil, gas and ture, “Long-Term Funding of Exploration and
tial revenues from oil and gas production are mineral resources. I pledge our total support and Petroleum Business in Nigeria – Strategies for
not mismanaged or lost to corruption. EITI commitment in ensuring that the EITI works for Sustainability,” aligned with DPR’s commitment
implementation will require Uganda to publicly Uganda.” to make Nigeria a top investment destination.
disclose information such as contracts, benefi- In the wake of the Covid-19 pandemic, According to him, this can be achieved through
cial owners, revenues and payments, including increased competition for investment under- the implementation of robust regulatory initia-
payments related to the environment. These dis- scores the need for transparency. While Ugan- tives and strategies to ensure maximum benefits
closures can in turn promote public oversight da’s oil industry is still nascent, Total, a founding from the country’s hydrocarbon resources for
and debate. member of the EITI internationally and a part- both investors and Nigerians alike.
Participation in the EITI is identified in the ner in the Lake Albert Development Project, He congratulated the association and its
Government of Uganda’s 2012 Oil and Gas founding fathers for the immense contributions
Revenue Management Policy as an action that to the Nigerian oil and gas industry over the
will help create lasting value from oil and gas years.
revenues. Proven reserves of over 6bn barrels Sarki promised that the DPR would continue
of crude oil have been identified in Uganda, of to collaborate with professional associations like
which 1.4bn is currently deemed to be recov- NAPE for the development of the oil and gas sec-
erable. Total and China National Offshore Oil tor. He said that the DPR was causing a paradigm
Corporation (CNOOC) are active in the region shift from being a regulator to a business enabler
and share an interest in license areas in the Lake in the oil and gas industry in Nigeria in order
Albert development project. If managed respon- to achieve the aspirations of government in the
sibly, expected oil revenues can contribute to sector.
national development plans such as infrastruc- Department of Petroleum Resources, August 16
ture and social services. 2020

P20 www. NEWSBASE .com Week 33 19•August•2020