Uganda National Oil Company (UNOC) Monday announced that Ms. Proscovia Nabbanja will be the Chief Executive Officer taking over from Josephine Wapakhabulo who recently resigned.
Nabbaja, who has been operating in acting capacity, has immediately been tasked by the Board of Directors to implement the company’s Five-Year Strategy developed by Wapakhabulo.
The strategy basically spells UNOC ambitions and how to achieve its objectives key of which is to ensure that UNOC becomes a profitable company that brings value to its shareholders.
“The BOD is confident that Ms. Nabbanja’s appointment will propel UNOC to greater heights given her vast Knowledge, drive and experience in the petroleum industry.
“UNOC has a key role in ensuring the sustainability of petroleum resource production and reserve replacement in the country. In this regard, UNOC is planning to acquire exploration licenses with a view of increasing the resource base of the country.
“UNOC’s strategy is to build a refinery that meets the petroleum products' needs of Uganda and its regional neighbors, with any remaining to be exported,” read a brief statement issued by UNOC.
Nabbaja, a geologist, priority to taking the acting CEO role, was working at UNOC as the company’s Chief Operating Officer (Upstream).