IMF Staff Country Reports

Uganda : Technical Assistance Report-Fiscal Regimes for Extractive Industries: Next Phase

Author/Editor:

International Monetary Fund. Fiscal Affairs Dept.

Publication Date:

December 13, 2017

Electronic Access:

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Summary:

Uganda is poised to become a major oil producer if key preconditions are met. A joint venture of three international companies plans a major Uganda Oil Project, in partnership with the government. Up to 1.7 billion barrels (bbl) of recoverable reserves have been discovered with a high exploration success rate. However, challenges for commercialization of petroleum have been significant: infrastructure for commercialization of oil, and a number of outstanding regulatory and fiscal issues addressed in this report. Oil market developments since mid-2014 have created a difficult environment for project decisions. Uganda has made important progress in the legal framework for petroleum development, with two new Acts of 2013. The first competitive licensing round is being held in 2015.

Series:

Country Report No. 17/367

Subject:

Mining sector Oil Oil prices Taxation Technical Assistance Uganda