Rubondo like other players insists that Final Investment Decision is simply an event adding that what is a key is for those planning to participate is to make adequate preparations as well as participate in ongoing works.
The Petroleum Authority over the weekend concluded Public Hearings for the Kingfisher Development Project Environmental Social Impact Assessment(ESIA) in Kikube and Hoima districts.
CNOOC Uganda Limited presented its Environmental Social Impact Report https://pau.go.ug/about-us/resources/publications/ for comments by the residents in the project area, civil society and environmental groups.
It was the second Public Hearings into Environmental Social Impact Assessments in the oil sector. The first hearing into Tielnga Project operated by Total E&P was held last year. We captured some of the moments on camera.
Minister of Energy and Mineral Development, Irene Muloni, says the deal is due and that the Uganda Revenue Authority has computed a capital gains tax of 167 million dollars, equivalent to 617 billion shillings.
Sources that attended the meeting say land owners have finally agreed to be paid 3.5 million shillings for an acre of land after hours of haggling. It appears, however, that political leaders from Buliisa had wanted the rates not below 20 million shillings.
When Uganda confirmed existence of commercially viable petroleum reserves in the Albertine Graben in 2006, the biggest question whether oil reserves would become a blessing or a curse to the country. Hoima, once a sleepy town and district has since the discovery of oil and gas been bustling with activity. The momentum has been higher this year with plans to construct an oil refinery and an international airport ahead of first oil by 2020.
The delegation hosted jointly by Stanbic Bank, the Energy Industries Council EIC and the British High Commission is led by Lord Dolar Popat, the UK Prime Ministers Trade Envoy to Uganda and Rwanda. It is the first of its kind from the UK in the energy sector.
The letter of notification sent early last week seeks governments permission to allow the planned sale of Tullows assets to proceed. Tullow Oil, in January this year, agreed to transfer 21.57 percent of its 33.33 percent interests in Lake Albert Development Project covering exploration areas 1, 1A, 2 and 3A to Total for a total consideration of USD 900 million 3.27 trillion Shillings.
Dr Callist Tindimugaya, the Commissioner, Water Resources Planning and Regulation says the study expected to begin before the end of the year, will also quantify the amount of water needed to have oil out of the ground.
.Oil industry players and environmental activists say failure to put in place a new environmental regulatory regime has exposed the countrys environment to danger. Reports indicate that NEMA is still stuck with a huge stockpile of mud cuttings from the drilling of oil which cannot be disposed off in the absence of disposal guidelines.