Tullow Oil Denies Exit Rumors

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Elly Karuhanga President of Tullow Oil Uganda

Tullow Oil has denied reports that it is planning to pull out of the Uganda oil market because of delays in resolving outstanding issues in the sector.

Media reports recently stated that the oil company was frustrated at the lack of progress on arriving at “a final investment decision” about whether to build a pipeline or a refinery.

Tullow Oil is the company that discovered oil in Uganda in 2006.

Tullow oil’s publicist Cathy Adengo told the media that the company’s programme for appraisals is complete and the development means the company either pumps crude oil or refines it.

Tullow Oil Uganda’s President Mr. Elly Karuhunga while addressing the Public Dialogue on Oil and Gas in Kampala last week affirmed that Tullow is here for a long time despite the delays in approving many proposals.

“These (oil) companies are here for a long haul because they have invested huge risk capital. That is why they never answer back to accusations,” he said.

David Bishop, the Technical Training manager at Tullow Oil Plc told East African Business Week that the company is not planning to exit and that it was here for the ‘long run’.

“We had a meeting with the board and it was confirmed to the staff that the reports are not true and we are going to be here in the production process for the next 25-30 years,” said Bishop.

“Because we have to adhere to international standards, we are in talks with Nakawa Vocational Training Institute to establish a trainers’ training center in partnership with a European awarding institution.”

He was speaking to the media on the sidelines of a Uganda Manufacturers’ Association (UMA) organized business luncheon in Kampala recently.

Mr. Ivan Kyayonka, the General Manager of Shell Uganda while addressing the manufacturer’s lauded Tullow Oil’s move to set up a training center in the country.

He said, “I was worried about the graduates we were churning out because we are training geologists and yet most of that work is complete. We hadn’t thought of training welders to work on the pipeline because that is where we are going.”

 

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2 thoughts on “Tullow Oil Denies Exit Rumors”

  1. Well, I really do not think that Tullow can just pullout just like that , but we must have a plan B ,just in case it pulls out ,as I hear Uganda has been dragged to court be the same company ,so let us be preparing for their exit.

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