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| | | Title | NATURAL RESOURCE MANAGEMENT IN THE ALBERTINE GRABEN REGION OF UGANDA: Baseline Survey Report | | Author | EPRC | | Subject | Natural Resource Management | | Date of Publication | 2015 | | Publisher | Economic Policy Research Centre (EPRC) | | Number of Pages | 46 pages | | Language | English | | Geographical Coverage | Uganda | | Keywords | Oil, Petroleum production, Corruption, Infrastructural development | | Abstract | Uganda discovered commercially viable oil reserves in its Albertine Graben region in 2006, and as of 2014, oil reserves were estimated at 6.5 billion barrels (1.4 billion barrels are estimated as recoverable) after exploration of only 40 percent of the region. With the proposed lifting of the moratorium on exploration in new areas, it is expected that known reserves could substantially increase and elevate Uganda to the rank of other mid-sized oil producers—roughly comparable to Gabon, the Republic of Congo, Chad and Trinidad and Tobago.1 Furthermore, during 1998-2013, Uganda managed to attract US$ 2.4 billion in foreign direct investment in petroleum exploration.2 It is expected that Uganda could earn at least $2 billion a year for 30 years once oil production commences. This prospect holds unprecedented potential to accelerate development and drive the country’s transformation into a regional and even global economic player. As envisioned in Uganda’s national oil and gas policy, the country’s oil resources could also be crucial for alleviating mass poverty and improving national living standards. | | Copyright Holder | Economic Policy Research Centre (EPRC) | | Copyright URL | http://www.eprc.or.ug | | Filesize | 1820117 MB | | File Format | PDF | | [ View / download original document ] |
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