Companies warned of fraudsters in oil industry

PIC: Elly Karuhanga, the chairperson of the Uganda Chamber of Mines and Petroleum

OIL

KAMPALA- Companies warming up for contracts in the oil and gas value chain have been warned to look out fraudsters.

Elly Karuhanga, the chairperson of the Uganda Chamber of Mines and Petroleum, warned foreign entities to be careful with whoever they deal with while in Uganda.

"There are many partners who will come to you, and tell you they will take you to the president (of Uganda). Yesterday," he said.

Karuhanga urged investors to consult professional advisors. He made the remarks at national suppliers' workshop for the Tilenga upstream project organised by Fluor and Ponticelli recently.

Ali Sekatawa, the director for legal and corporate affairs at the Petroleum Authority of Uganda, said some conmen are trying to use the national suppliers' database to defraud unsuspecting Ugandans.

Petroleum Authority of Uganda is required by the Petroleum Exploration Development and Production Act of 2013 to publish a database of companies involved in petroleum activities in the country.

Activities in the oil and gas industry are picking up, as the country gets ready for the production of oil.