Government has said it is in the process of disclosing all contracts that have been signed in the oil and gas sector since 2021.

In details contained in a June 6 Letter of Intent to the International Monetary Fund co-signed by Finance Minister Matia Kasaija and Bank of Uganda Director Research Adam Mugume, government indicated that as a way of implementing commitments under the Extractive Industries Transparency Initiative, it would disclose oil and gas production contracts signed from 2021 onwards as well as publish beneficial owners of corporate entities involved in projects in the mineral sector.

“We are preparing to disclose contracts and licenses for oil and gas production signed from 2021 onwards and beneficial owners of corporate entities involved in projects in the mineral sector,” the letter, published in the IMF June Fourth Review for Uganda, reads in part.

However, government does not indicate when it expects to disclose the contracts and which other details, apart from beneficial owners, will be disclosed.

Dr Mugume, yesterday told Monitor “the disclosure is being worked on but I am not sure when this be fulfilled”.

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