The Manager, National Content, Petroleum Authority of Uganda (PAU), Mrs. Betty Namubiru, has revealed that her country is impressed with Nigeria’s oil and gas industry regulatory activities. She also shared that her country is taking lessons from the Department of Petroleum Resources (DPR).
She said this at her agency’s visit to the DPR headquarters in Lagos. The essence of the visit, she explained, was to learn from Nigeria DPR’s operational activities in the oil and gas sector and imbibe some of its working models.
“We are truly inspired with the professional engagement of the agency in the Nigerian oil and gas industry. We are here to learn from Nigeria on how it has been able to benefit from the oil and gas sector.
“We are at the moment; Uganda oil reserves estimates remain six billion barrel and the estimates of one billion barrels is the recoverable volumes at the `current condition.
“These reserves can be increased to 1.4 billion barrels from contingent resources, which are qualities of oil and gas estimated to be potentially recoverable but currently not considered to be commercially recoverable due to one or more contingencies,” she said.
The manager also revealed that her agency was looking for ways to optimize Uganda’s national petroleum for the benefit of its incoming investment to Uganda. She revealed that her country was going into the development stage of production, saying that about 20 billion dollars investment had been in the oil and gas to help in the construction and development of the upstream and midstream projects.