- June 13, 2018
- Posted by: Communications
- Category: Latest News
By Francis Mugerwa
Hoima
Oil companies joined the Bunyoro Kitara Kingdom to commemorate the Omukama’s 24th coronation anniversary celebrations.
On Monday, the Bunyoro Kitara Kingdom celebrated 24th coronation anniversary of Dr Solomon Gafabusa Iguru 1, the Omukama of Bunyoro Kitara.
CNOOC Uganda officials that attended the Omukama’s 24th coronation anniversary celebrations
Dr Iguru was enthroned on June 11th 1994. Every year, the Kingdom commemorates the Omukama’s coronation anniversary which is traditionally known as Empango.
The celebrations were supported by individuals, institutions, government and the general public.
This year’s celebrations were held under the theme, “Transforming Bunyoro Kitara Kingdom”
CNOOC Uganda Ltd and Total E&P Uganda were among the companies that supported the celebrations.
The two companies which are operating under a joint venture delivered a consignment of 10 million shillings in kind to the Bunyoro Kitara Kingdom Prime Minister.
The consignment included beverages and water which were served to the Omukama’s subjects that attended the celebrations.
“Thank you very much for this support. It is a boost in our preparations (for Empango)” the Bunyoro Kitara Kingdom Prime Minister Rt. Hon. Andrew Byakutaga said shortly after receiving the donation.
He urged oil companies and contractors to team up with the Kingdom in improving the welfare of the King’s subjects.
He said the Kingdom will work with Government, oil companies and several development partners to mobilise the people to tap the benefits of the petroleum industry.
He says the Kingdom wants to offer skills, capacity building and trainings to local individuals, companies and associations.
The Kingdom has prepared a budget of 5.9 billion shillings for its next financial year.
Aminah Bukenya, the CNOOC Uganda’s senior public relations officer appreciated the kingdom for the support it has rendered the company which has made it easy for CNOOC Uganda to carry on its operations in Hoima district.
Oil company officials were among the thousands of people that attended the celebrations.
Uganda has over 6.5 billion barrels of crude oil. The Government’s target is to kick off commercial oil production by 2020.
Bunyoro Kitara Kingdom is one of the cultural institutions that are entitled to a 1% share on oil royalties when commercial oil production commences.
Under the Public finance Act, Cultural institutions are entitled to a 1% share of oil royalties.
Background
Total E&P Uganda is partnering with CNOOC Uganda Limited (an overseas branch of CNOOC Limited) in the development of Uganda’s oil resources in the Lake Albert region.
In 2012, Tullow Oil farmed-down an agreement with Total E&P Uganda and CNOOC Uganda Limited in which they each acquired a 33.3% interest in the Lake Albert Exploration Areas 1, 1A-Lyec, 2 and 3-Kingfisher. Each of the 3 partners has an equal stake in the exploration area operated by its partner.
CNOOC Uganda Limited and Tullow Oil therefore have an equal stake in Total E&P Uganda’s operations in the Murchison Falls National Park. CNOOC Uganda Limited received a Production License for the Kingfisher area in September 2013. Together, the partners will soon move into the Development phase of these oil resources.
ENDS