The Norwegian Model of Oil Extraction and Revenues Management in Uganda

Abstract

Abstract: According to the latest figures, Uganda has 6.5 billion barrels of oil deposits, which makes it the third-largest oil holder in sub-Saharan Africa. Currently the country is preparing its legal and institutional framework for proper management of the oil revenues. However, developing an effective oil sector in any of the SSA states has so far proved to be a futile task. To ensure that Uganda is not going to repeat the mistakes of Nigeria, the country’s leaders have requested Norway’s assistance in preparing Uganda’s oil sector for the upcoming production phase. The major objective of this article is to determine whether the Norwegian model of oil extraction and revenues management is transplantable to the Ugandan political, economic, and social conditions.