UNOC scoops continental award

The Uganda National Oil Company (UNOC) has received Africa wide recognition after winning the best National Oil Company (NOC) presentation at a recent Oil and Gas forum held in South Africa.

The award comes just less than three months since UNOC launched its formal operations.

The conference that was organised by Standard Bank was held to provide detailed financial training across the multiple financial products that African National Oil Companies can employ to optimise their financial structures.

Receiving the award, UNOC Chief Executive Officer, Dr. Josephine Wapakabulo said, she was proud to receive the recognition at such an early stage in the company's development.

"UNOC has a very specific mandate and role to play in the setup, growth and development of the Ugandan Oil industry. Winning this award indicates we are starting from a solid base as far as our strategic direction is concerned," Dr. Wapakabulo said in a statement.

"The Ugandan Oil and Gas industry is still at a nascent stage, our ability and the willingness to put in place the necessary structures to ensure we are able to maximize the opportunities this finite resource presents for the country is, therefore, very important, strategic planning is key to this process," she added.