East Africa: Uganda's Oil and Gas Investments Surpass Shs57 Trillion As First Oil Approaches

What the report says

Uganda’s petroleum sector has drawn more than Shs57.4 trillion, or about US$14 billion, in investment as the country moves closer to commercial oil production, according to the Petroleum Authority of Uganda (PAU). The figures were presented on November 11, 2026, at the Fourth Annual National Conference for civil society and non-governmental organisations working on oil and gas issues, held at Mestil Hotel in Kampala.

Acting PAU Executive Director Michael Otonga Ochan said the sector has become an important source of jobs and business for local firms. He said 22,234 people were employed in the industry as of June 30, 2026, with Ugandans filling 18,958 of those positions, or 85%. He also said approved Tier One contracts totalled US$7.6 billion, with about US$2.3 billion, or 30%, awarded to Ugandan companies.

The article said the investment has supported infrastructure development and created opportunities across construction, logistics, catering, security, transportation and related services. Ochan also said more domestic companies need stronger technical, financial and quality capacity to compete for larger contracts as production nears. In general, petroleum projects can bring wider economic activity, but they also raise issues around environmental protection, governance and local participation.

Ochan said PAU’s future focus will include safe operations, resource recovery, transparency and ensuring oil revenues contribute to national development. The conference brought together government officials, oil companies, civil society groups and development partners to discuss sustainability as Uganda prepares for first oil.