The Petroleum Authority of Uganda (PAU) says at least 2.81 billion dollars (UGX 10.291 trillion) will be invested in oil and gas by licensed companies this year.
According to the PAU Executive Director, Dr. Ernest Rubondo, by the end of 2024, 9.96 billion dollars (UGX36.4 trillion) had been invested in the oil and gas sector, with 1.96 billion dollars (UGX7 trillion), and 2.44 billion dollars (UGX8.93 trillion) invested in 2023 and 2024, respectively.
He was speaking at the Insurance Consortium for Oil and Gas Symposium 2025.
The oil and gas investments, said Dr. Rubondo, will create 15,169 direct jobs, 89 percent by Ugandans.
He said the oil and gas sector has more than 5.3 billion dollars worth of contracts, of which 2.1 billion dollars have been awarded to Ugandan companies.
Of the 3,087 companies (local and international) registered on the national supplier database, 630 companies have been awarded contracts, 465 of which are Ugandan.
Dr. Rubondo said the investments will result in heightened activity in other sectors of the economy, such as insurance, banking, and other services.
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