Josephine Wapakhabulo, has been appointed the Chief Executive Officer (CEO) of Uganda’s National Oil Company (UNOC).
Her appointment announced by company’s board chairman, Emanuel Katongole on Wednesday June 1, comes weeks after The Independent reported that she was being considered for the job.
In his statement, Katongole noted that Wapakabulo will lead the set up of UNOC and manage its transformation into a world class Oil and Gas Company as the country prepares for commercial oil production.
The statement added that she has worked extensively on standards for the petroleum industry focusing on integrating life-cycle data for oil and gas production facilities, the board noted.
“The UNOC Board of Directors (BOD) is confident that Dr. Wapakabulo brings experience, energy, drive and enthusiasm to the UNOC,” the statement reads, “Her appointment takes effect on Aug.1.”
Wapakhabulo, is the daughter of the late James Wapakhabulo, who served as Uganda’s speaker, foreign affairs minister and Deputy Prime Minister.
She is considered a trusted hand of President Museveni and has already been handling critical assignments for him. The Independent reported last month that she was being considered for the job (click here to read story).
In the same story, we reported that she was assisting President Museveni in procuring a company to operate a technology, worth about Sh 70 billion, that is meant to monitor telecoms.
The statement from the board noted that she holds a Global Executive MBA from INSEAD business school based in France and a PhD in Information Science, MSc in Information Technology and a BSc Electronic and Electrical Engineering all from Loughborough University in the United Kingdom (UK).
News of her appointment comes after the company’s board was inaugurated at the end of last year. Apart from Katongole, its other members are; Eng. Irene Batebe, Francis Twinamatsiko, Geoffrey Andama, Francis Nagimesi, Biwaga Stella Marie, and Grace Tubwita.
The UNOC is established by the Petroleum (Exploration, Development and Production) Act 2013 and incorporated under the Company’s Act. It is wholly owned by government and its two shareholders are the Finance and Energy ministries.
It is mandated with managing the countries commercial interests in oil and gas, which include; the 15 percent government interest provided in the Production Sharing Agreements (PSAs) and the 40 percent holding the refinery to be constructed by a consortium led by Russia’s RT Global Resources.
Last month the government also made the decision to have the crude pumped through the Tanzania pipeline route expected to cost sh4.5 billion. Uganda is currently preparing to start developing the fields where it has some 6.5 billion barrels of oil, of which 1.4 billion is recoverable. Both government and oil companies, CNOOC, Tullow and Total expect first oil by 2020.