The Petroleum Authority of Uganda (PAU) has held its first sectoral association conference for oil and gas under the theme “Leveraging the Oil and Gas Sector to Enhance Broad-Based Economic Growth and Development,” aiming at enhancing lasting value trickling down to other sectors of the economy.
Dr. Jane Mulemwa, the Chairperson of the Board of Directors for PAU, said that the theme of the conference is a befitting one and will enable everyone to take stock and credit in the oil and gas sector to ensure lasting value that will trickle down to other sectors of the economy and avoid the Dutch Disease (where one sector of the economy, particularly natural resources, results in a negative impact on the overall country’s economy).
“The board of PAU has a key statutory mandate to advise the Ministery of Energy and Mineral Development on petroleum-related policy and strategic issues, and we have heard of the linkages between the oil and gas sector and agriculture, housing, banking, health, and tourism, among others,” Dr. Mulemwa said.
Mulemwa made these remarks while addressing members attending the first sectoral linkage conference on April 12, 2024, in Kampala.
She noted that the Authority is aware of the limited mandate to monitor and regulate exploration, development, and production of petroleum in Uganda, adding that it is, however, the duty of the board to highlight the value that the linkages between the oil and gas sectors will bring to the economy and the country.
Mulemwa added that it is important to engage local leadership in understanding both the opportunities and risks of the oil and gas sector, since they play a pivotal role in fostering community involvement and ensuring sustainable engagement across sectors.
“We face several opportunities and threats with the increase in oil and gas activities, especially following the final investment decision in the oil and gas sector,” she added.
Ernest Rubondo, the Director of PAU, said that the development of Uganda’s oil and gas sector needs to go hand in hand with other sectors of the economy so that it can achieve its desired goal of using the country’s resources to create lasting value for society.
“Uganda’s successful implementation of national content policies in the oil and gas sector and highlighted Uganda’s experience indicate significant potential for increased national participation and benefits when relationships are forged at the sector level,” Rubondo said.
According to Rubondo, benefits from the oil and gas sector can be increased by the revenues that are to be generated, the participation of Ugandans (in the national content), and the linkages between oil and other sectors of the economy such as agriculture, education, and housing, among others.
