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Article

30 Jun 2012

Author:
Ibrahim Kasita, New Vision [Uganda]

Government discloses oil deals [Uganda]

Uganda has disclosed...[that] five active production sharing agreements have been signed with five multinational corporations namely Tullow Uganda, China’s National Oil Corporation (CNOOC Uganda), Total E&P Uganda, Dominion Petroleum and Neptune Petroleum. The details of the agreements, however, remained confidential due to “commercial interests” sparking speculation that Uganda may have got raw deal…[D]uring a seminar for members of the 9th parliament…it emerged that Uganda will share 74% of oil benefits even after the oil companies recover their costs. Robert Kasande, the assistant commissioner in the petroleum exploration and production department…[said] “Uganda terms are very well placed among African exporters…"