Legal Framework
Established by law for national benefit
Uganda National Oil Company (UNOC) was established under Section 42 of the Petroleum (Exploration, Development and Production) Act, 2013. The Act provides the legal framework for UNOC to manage the commercial interests of the Government of Uganda in the petroleum sector.
As a national oil company, UNOC is mandated to hold and manage the State's participating interests in petroleum agreements entered into between the Government and oil companies. This includes both exploration licenses and production sharing agreements.
UNOC operates as a limited liability company wholly owned by the Government of Uganda, with the Ministry of Energy and Mineral Development exercising oversight on behalf of the State. The company is governed by a Board of Directors appointed by the Minister responsible for petroleum.
In addition to the Petroleum Act, UNOC's operations are guided by the National Oil and Gas Policy, 2008, which outlines the Government's vision for developing Uganda's petroleum resources in a sustainable manner that benefits all Ugandans.
Key Mandate Areas
State Participation
Hold and manage participating interests of the State in petroleum agreements, ensuring optimal value creation from Uganda's oil and gas resources.
Commercial Operations
Engage in commercial petroleum activities across the value chain, including upstream, midstream, and downstream operations.
Local Content
Promote and support the participation of Ugandan citizens and businesses in the petroleum sector through capacity building and procurement.
Asset Management
Prudently manage petroleum assets and investments to maximize returns for the Government and people of Uganda.
Strategic Partnerships
Develop and maintain strategic partnerships with international oil companies, governments, and other stakeholders.
Good Governance
Operate with transparency, accountability, and adherence to the highest standards of corporate governance.
Strategic Objectives
Maximize value creation from Uganda's petroleum resources for national development
Ensure efficient and sustainable development of petroleum assets
Build and maintain world-class technical and commercial capabilities
Promote local content and capacity building in the petroleum sector
Operate in accordance with international best practices in health, safety, and environment
Support community development and social responsibility initiatives
Contribute to Uganda's energy security through diversified investments
Foster innovation and technological advancement in the petroleum sector
Operating Across the Value Chain
UNOC is mandated to operate across the entire petroleum value chain, from exploration to retail distribution.
Upstream
Exploration & Production
Midstream
Transportation & Storage
Downstream
Refining & Distribution