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Uganda’s oil journey to a $15 billion investment
April 14, 2021 Written by CRISTAL ADVOCATES
There was palpable excitement in 2006 when Uganda found oil that the government organised national thanksgiving prayers on October 8, 2006 to celebrate this feat.
To the ordinary folk, an immediate economic bonanza that is yet to materialise was imminent! As a nascent country finding oil for the first time, it is not surprising that it has been a long journey to the Final Investment Decision (FID).
There was lot of work to be embarked upon putting in place the necessary legislative framework and enabling infrastructure. Uganda’s petroleum discoveries were made at a time of rising oil prices and raging resource na