You are here
Find us on:
Facebook Twitter Google Plus Youtube

Norway renews oil sector funding, urges Uganda to join EITI

Finance Minister Matia Kasaija at the signing ceremony. (Photo courtesy of Norwegian Embassy)

Finance Minister Matia Kasaija at the signing ceremony. (Photo courtesy of Norwegian Embassy)

The Norwegian government last week committed an additional 6.5 million dollars to support Uganda’s oil and gas sector in a new agreement that was signed by the Norwegian Ambassador to Uganda, H.E. Thorbjørn Gaustadsæther and the new Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija at the Finance Ministry Headquarters in Kampala.

The financial support will go towards strengthening the management of Uganda’s oil and gas sector and will run from 2015 to 2018.

According to a statement from the Norwegian Embassy, the money will be used to support Uganda in the implementation of its National Oil and Gas Policy, “With specific emphasis on supporting putting in place institutional arrangements and capacities to ensure well-coordinated and results oriented resource management, revenue management, environmental management, as well as health, safety and environment management in the oil and gas sector.”

This new agreement brings the total Norwegian support under the Oil for Development Programme to approximately 27.6 million dollars and extends a decade long relationship between the Governments of Norway and Uganda to build the latter’s oil and gas sector.

According to the statement, the new program will focus on efficient management of the oil and gas resources, revenue and environment, increasing public awareness of the petroleum sector and government accountability. “Norway will continue to encourage Uganda to subscribe to established mechanisms for fostering transparency and accountability such as the EITI,” it reads.

Norway has previously supported Uganda to formulate its National Oil and Gas Policy, which established the basis for the formulation of the Petroleum (Exploration, Development and Production) Act 2013, Petroleum (Refining, Conversion, Transmission and Midstream Storage) Act 2013, and The Public Finance Act, 2014.

Report by Oil in Uganda Staff