By Peter Abanabasazi
President Museveni has implored people around the oil fields to participate in agriculture by growing more food for the available market.
Museveni was speaking at the launch of the commencement of drilling Kingfisher Oilfield where he switched on the rig–installed in November last year at Buhuka village, Kyangwali in Kikuube district last evening.
The rig is operated by China National Offshore Oil Corporation (CNOOC) and will start drilling 31 oil wells on four well pads.
At current oil prices of about $87.5 per barrel, the Kingfisher project will account for 15 percent of the total oil revenue to the government from upstream operations, equivalent to $6.9 billion for the entire project, or $360 million per year.
“People of the area, the biggest local content which all of you can participate in is agriculture because all these people who work in the oil fields need food. Grow food so that these people buy it from you,” Museveni said.
He also warned encroachers in Bugoma forest.
