Kampala. Tullow has spent more than $300m (Shs1.122 trillion) on about 600 local suppliers for its operations in Uganda, according to Mr Jimmy D Mugerwa, company’s managing director.
Speaking during a Tullow Group Scheme Alumni dinner in Kampala, Mr Mugerwa, said the oil company has been instrumental in promoting social investments, especially in strengthening the local economy through different activities.
This, he said, has seen them spend in the excess of $300m (Shs1.122 trillion) to support the growth of local businesses as well as ensuring that they are self-sustaining.
Tullow entered Uganda in 2004 following the acquisition of Energy Africa.
It has been an active member in Uganda’s oil sector since entering the Lake Albert Rift Basin after it acquired a license from Hardman Resources in 2007.
Mr Mugerwa said local suppliers, especially in the area of construction, transportation and food have been some of the key partners that have benefited from the company’s plan to support local investors.
Tullow, he said, has invested up to a tune of more than $5m (Shs18.7b) in shared infrastructure and logistics projects to benefit local communities in the area of health and education in Hoima and Buliisa districts.
“We Tullow are conscious of our responsibilities and our roles as part of an emerging industry in Uganda. Our strategic priority related to shared prosperity is to nurture long-term relationships with governments, communities and key stakeholders with the ultimate aim of creating a positive contribution in areas where we operate,” he said.
Tullow also operates a group scholarship scheme that seeks to develop capacity of local communities in countries it operates.
The project seeks to link projects to various industries that feed into the oil and gas value chain.