fbpx

Uganda Holds Bidder’s Conference After Successful First licensing Round

Uganda through the Ministry of Energy and Mineral Development on last week held the bidders conference for the ongoing licensing round to provide clarifications to the request for proposals documents, relevant laws, regulations and model Production Sharing Agreements (mPSA).

According to the government the bidders received information provided is aimed at promoting transparent and equitable bidding process to enable oil companies to prepare technically and commercially responsive bids expected to be submitted ahead of the January 15, 2016 deadline.

The Bidders conference held at the Lake Victoria Serena Golf Resort hotel and was attended by at least 40 representatiives of the 16 potential bidders/Qualified Applicants were issued with the bidding documents on 1st October 2015.

Mr Ernest Rubondo, Director of Petroleum Directorate, in a presentation “Overview of the Oil and Gas Sector and Key Aspects of the First Licensing Round” gave status of legislation and institutional framework in the oil and gas sector and emphasized that the process and criteria that will be used when evaluating the best responsive bids.

Rubondo said that implementation of this licensing round will continue to be undertaken in the most transparent and predictable manner in alignment with the National Oil and Gas Policy for Uganda and the Petroleum (Exploration, Development and Production) Act 2013, which provide for the implementation of competitive licensing round for petroleum exploration blocks in Uganda.

According to Minister of State for Minerals Honourable Peter Lokeris the key objectives of the licensing round are to: attract more investments in Uganda’s oil and gas industry; expand the resource base with a view to improve revenue base; enhance the sustainability of oil and gas production; and, respond to the investors who have expressed interest in the oil and sector.

He pointed out key incentives such as the in place of legal and regulatory frame work in, political stability to make investments in oil and gas sector secure and well established petroleum systems in the country.

“Government is committed to developing the oil and gas industry in the country in partnership with all the stakeholders in an efficient and effective manner to the benefit of all Ugandans, the East African region and create value to investors.” He said.

The six biddable blocks comprise of the Ngassa (410 Km2 ) in Hoima District, Taitai&Karuka (565 Km2 ) in Buliisa District, Ngaji (895 Km2 ) in Rukungiri&Kanungu Districts, Mvule (344 Km2 ) in Moyo and Yumbe Districts together with Turaco (425 Km2 ) and Kanywantaba (344 Km2 ) in Ntoroko District.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Select your currency
USD United States (US) dollar
Need more info? Just Whatsapp me!!
%d bloggers like this: