Recruitment for oil institutions commences
The search to fill managerial positions in Uganda’s National Oil Company and Petroleum Authority has officially kicked off.
On Monday this week, the Board of the Uganda National Oil Company Limited (NATOIL) called for applications in the local dailies for positions of six senior managers, including the Chief Executive Officer (CEO). Other top managerial positions advertised are; Chief Exploration Officer, Chief Development and Operations Manager, Chief Legal Corporate Affairs Manager, Chief Finance Manager and Chief Human Resource Manager.
According to the notice, for one to be recruited as a NATOIL CEO, he or she must have a Master’s Degree in petroleum related courses that include engineering, economics, petroleum sciences, or law among others, together with 15 years working experience in senior management positions in a busy institution.
The National Oil Company was established by the Petroleum (Exploration, Development and Production) Act, 2013 and officially incorporated on June 12, last year. It was incorporated as a company limited by shares, under the Companies Act 2012, but wholly owned by government.
The company has two shareholders namely; the Minister of Energy and Mineral Development who holds 51 percent shares and the Minister of Finance, Planning and Economic Development (MFPED) who owns 49 percent shares on behalf of the Ministry.
According to the Act, the company’s mandate includes collecting the country’s share of petroleum received in kind, managing business and commercial aspects of state participation and also developing in-depth expertise in the oil and gas industry, among others.
Upon its incorporation, the company is a separate and distinct legal entity from its subscribers and it can sue or be sued in its own name, enter into legally binding contracts and own property. The production sharing agreements also provide for government participation through carried interest of up to 15 percent in licensed oil fields.
National Petroleum Authority
Two weeks ago, the Board of the Petroleum Authority of Uganda also started a search for an Executive Director to head the regulatory body. According to the Petroleum Act 2013, the Authority is charged with monitoring and regulating the petroleum sector, administering petroleum agreements, among others.
According to the advert that was carried in the local newspapers, potential candidates should have a minimum of a Master’s Degree in petroleum related courses, law, economics or finance with 10 years experience in a senior management position.
The Petroleum Act, 2013 establishes three key institutions, namely; the Petroleum Authority of Uganda – the regulator, the Petroleum Directorate which is meant to handle policy- making and monitoring of the sector and the National Oil Company. All these institutions are now in place.
Report by Edward Ssekika