ENTEBBE – The Presidential Investor’s Roundtable (PIRT) is on at State House, Entebbe.
In its Sixth Phase, PIRT is critical in dealing with key policy issues in order to promote investments and improve the business environment.
Prime Minister Ruhakana Rugunda opened the PIRT review meeting and is now chairing discussions on oil and gas.
The Office of the Prime Minister is in charge of PIRT, while Uganda Investment Authority supports the Technical Working Groups on oil and gas, tourism, minerals value addition, agricultural value addition, competitiveness and transport, and logistics.
Presidential Investor’s Roundtable (PIRT) key issues on oil and gas:
- Finalise all preconditions delaying final investment decision (FID) leading to the upstream and midstream development.
- Have more energy in negotiating the crude oil pipeline agreement.
- Have a legal regime that is applicable to both Uganda and Tanzania to aid the development of the crude oil pipeline.
- Resolve negative issues around the oil and gas law, policy and regulations.
- Ensure quick responses on both sides – government and the oil companies – on pertinent issues like the constitution of the Local Content Committee, the conclusion of production sharing agreement grandfathering and stabilization, etc.
- Enable Uganda National Oil Company to acquire stakes in oil ventures.