No more oil secrets — CNOOC

By Samuel Sanya

THE China National Offshore Oil Corporation (CNOOC) has pledged increased access to information.

The public and the local media had raised the alarm about growing secrecy in Uganda’s young oil sector following the concealment of details in the production sharing agreements between the Government and oil firms.

The Chinese firm is a recent entrant in the oil sector having acquired a 33.33% stake in the country’s oil fields from Irish firm Tullow Oil about $1.5b (sh3.7trillion) in February.

Wei Chai, the CNOOC corporate affairs manager, noted that the firm will focus on observing human rights, labour rights, environmental protection and anti-corruption in line with requirements of the UN Global Compact initiative.

“As a listed company, we believe in being an operational and responsible entity,” she said.

She was speaking at a meet-and-greet ceremony at the Kampala Serena Hotel with NGOs, oil firms, the media and international development organisations. 

Zachariah Lubega, the corporate social responsibility manager added that the firm will regularly involve stakeholders through consultations and information sharing regarding the company operational progress.

Ibrahim Kasita, the UEJA chairperson, said there is need to for all stakeholders in the oil sector to stick to their mandate to ensure transparency.

“There are increased instances where the media assume to be the experts and the civil society organisations speak as operators. This is dangerous for the oil sector. We need accurate information to develop this sector,” he said.