Uganda National Oil Company

What Uganda National Oil Company does

Uganda National Oil Company (UNOC) is a state-owned limited liability company wholly owned by the Government of Uganda, incorporated in June 2015 under the Petroleum (Exploration, Development and Production) Act 2013 to manage the country's commercial interests in the petroleum sector. The company operates across the full petroleum value chain — upstream exploration and production, midstream refining and pipeline transportation, and downstream storage, trading, and importation. UNOC holds a mandated 15% participating interest in the Tilenga Project (190,000 bpd, operated by TotalEnergies) and the Kingfisher Development Area (40,000 bpd, operated by CNOOC), as well as 15% in the 1,443-kilometer East African Crude Oil Pipeline (EACOP) and 40% in the planned 60,000 bpd Uganda Refinery at Kabalega Industrial Park alongside Alpha MBM Investments LLC.

Following the 2023 Petroleum Supply (Amendment) Act, UNOC assumed exclusive rights as the sole importer of petroleum products for Uganda, supplying 102 Oil Marketing Companies through its partnership with Vitol Bahrain — generating $150 million in gross profit and 1.9 billion litres imported since July 2024. The company also manages the Jinja Storage Terminal (30 million litres), is developing the Kampala Storage Terminal (320 million litres, $300 million project), and holds a strategic 20.15% stake in Kenya Pipeline Company acquired for $255.4 million in March 2026.

UNOC's business model combines government-mandated equity participation in large-scale infrastructure projects with monopoly trade revenues from sole importation, supplemented by regional strategic investments. Revenue mechanics include transaction-based margins on petroleum product bulk trading, future participating-interest revenue from upstream production starting 2026, managed storage services for OMCs, and equity returns from pipeline and refining infrastructure. The company funds operations through a $2 billion Vitol Bahrain debt facility at 4.9% interest over 7 years, and is led by CEO Proscovia Nabbanja.

Name

Uganda National Oil Company

Legal name

Uganda National Oil Company Limited

Website

https://unoc.co.ug

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Uganda National Oil Company (UNOC) is a state-owned limited liability company managing Uganda's commercial petroleum interests across upstream, midstream, and downstream operations. It holds 15% participating interests in Tilenga, Kingfisher, and EACOP, is the sole petroleum product importer, and serves 102 Oil Marketing Companies domestically.

Ownership category

akta.pro rank

Headquarters

HQ city

Kampala

HQ country

Uganda

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Technology or R&D, Others

Revenue model

1. Petroleum Product Importation: UNOC serves as the sole importer of petroleum products for Uganda following the 2023 Petroleum Supply Amendment Act. The company imports petroleum products through its partnership with Vitol Bahrain, generating revenue through bulk trading to 102 Oil Marketing Companies. Over 1.9 billion litres imported as of March 2025, with $150 million gross profit generated from petroleum import partnership.
2. Upstream Production Participation: UNOC holds 15% participating interest in the Tilenga Project (operated by TotalEnergies, 56.67%) and Kingfisher Project (operated by CNOOC, 56.67%). These projects will produce crude oil for export and domestic refining.
3. Refinery Operations: UNOC holds 40% equity in the $4 billion Uganda Refinery project (partner Alpha MBM Investments LLC holds 60%). The 60,000 barrels per day refinery will process crude oil into refined products including LPG, diesel, petrol, and jet fuel for domestic consumption and regional export.
4. Pipeline Transportation: UNOC holds 15% equity stake in EACOP (East African Crude Oil Pipeline), a $3.5 billion, 1,443-km heated pipeline to transport Uganda's crude oil to Tanzania for export. Expected to generate $350-400 million in revenue for Uganda.
5. Petroleum Storage Services: UNOC manages the Jinja Storage Terminal (30 million litres capacity) and is developing the Kampala Storage Terminal (320 million litres, $300M project). Provides storage services to Oil Marketing Companies and government strategic reserves.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

UNOC is a state-owned national oil company managing the Government of Uganda's commercial interests across the petroleum value chain. The company holds participating interests in upstream oil and gas production projects (Tilenga, Kingfisher), midstream infrastructure (East African Crude Oil Pipeline and Uganda Refinery), and downstream operations including petroleum importation, bulk trading to Oil Marketing Companies, storage terminals, and LPG distribution.

Product overview

UNOC operates as a state-owned petroleum company managing Uganda's commercial interests across the entire oil and gas value chain. The company's portfolio includes upstream exploration (Kasuruban block) and production projects (Kingfisher at 40,000 bpd and Tilenga at 190,000 bpd) in which UNOC holds 15% participating interests. Midstream operations encompass the East African Crude Oil Pipeline (EACOP) - a 1,443 km heated export pipeline - and the 60,000 bpd Uganda Refinery under development at Kabalega Industrial Park. Downstream operations include Jinja Storage Terminal (30 million litres capacity), the planned Kampala Storage Terminal (320 million litres), LPG distribution, and sole importation of petroleum products. UNOC also holds strategic regional investments including a 20.15% stake in Kenya Pipeline Company.

Differentiator

Problem solved

Functional benefit

Products and services

• Kingfisher Project Oil production project in Kikuube district with peak capacity of 40,000 barrels per day. UNOC holds 15% participating interest as government nominee, alongside operator CNOOC Uganda Limited (56.67%) and TotalEnergies (28.33%). Includes Central Processing Facility, 31 wells on four well pads, and feeder pipeline to export hub.
• Tilenga Project Oil production project straddling Buliisa and Nwoya districts with peak capacity of 190,000 barrels per day. UNOC holds 15% participating interest, TotalEnergies E&P Uganda B.V. operates with 56.67%, and CNOOC holds 28.33%. Involves drilling approximately 400 wells from 31 locations with a 95-kilometer flow line to central processing facility.
• East African Crude Oil Pipeline (EACOP) 1,443-kilometer heated crude oil pipeline from Hoima, Uganda to Tanga Port, Tanzania, representing the longest heated pipeline in the world. UNOC holds 15% equity stake in this $3.5 billion project which serves as the key export infrastructure for Uganda's crude oil.
• Uganda Refinery Project 60,000 barrels per day refinery at Kabalega Industrial Park in Hoima. Joint venture between UNOC (40%) and Alpha MBM Investments LLC (60%), valued at $4 billion. Will process crude oil into refined products including LPG, diesel, petrol, and jet fuel, targeting 2029-2030 operationalization.
• Jinja Storage Terminal 30 million litre petroleum products storage terminal in Jinja serving as key storage facility for Uganda's petroleum supply chain and government strategic reserves. UNOC took full management and operatorship in December 2022.
• Kampala Storage Terminal Planned 320 million litre petroleum storage terminal in Mpigi district, 26 km from Kampala. Project cost estimated at $300 million. Will serve as storage for strategic reserves and hub for refined products pipeline from Hoima refinery.
• Petroleum Importation and Bulk Trading Sole importation of petroleum products (diesel, petrol, jet fuel) for the Ugandan market under the 2023 Petroleum Supply Amendment Act. UNOC partners with Vitol Bahrain for international sourcing and supplies 102 Oil Marketing Companies across Uganda, having imported over 1.9 billion litres since 2024.
• Liquefied Petroleum Gas (LPG) Clean cooking fuel distributed by UNOC to reduce reliance on charcoal and firewood (used by 94% of Ugandan households). Distributed in partnership with VIVO Energy Uganda since August 2025. Associated projects will produce 80,000 kilotons/year from Tilenga and 17,000 kilotons/year from Kingfisher.
• Exploration and New Ventures Upstream exploration operations covering the Kasuruban block, the largest of Uganda's five blocks in the second licensing round, spanning 1,285 sq km across Buliisa, Hoima, and Masindi districts. Includes 2D seismic survey partnership with BGP. UNOC aims to become an independent operator through strategic partnerships.
• Kabalega Industrial Park 29.57 square kilometre industrial park in Hoima where the refinery, crude oil export hub, and petrochemical industries will be located. Serves as strategic hub for Uganda's oil and gas commercialization and industrialization.

Quantifiable outcome

• 1.9 billion litres of petroleum products imported since 2024
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered minor, core, strategic and flagship.

• Lake Victoria LogisticsminorChannel Partner/ Reseller/ Distributor · 1 May 2026Partnership with Lake Victoria Logistics to diversify fuel supply routes as part of Uganda's energy security plan to reduce dependence on imported refined petroleum products.
• Kenya Pipeline Company (KPC)coreStrategic or Co-development Partner · 1 March 2026UNOC acquired 20.15% stake in Kenya Pipeline Company for $255.4 million through Kenya's IPO. The stake sale valued KPC at $1.3 billion. Shares trade on Nairobi Securities Exchange from March 2026. UNOC is the largest institutional investor in KPC.
• National Oil Company (Ethiopia)minorStrategic or Co-development Partner · 1 January 2026Partnership with Ethiopia's National Oil Company for fuel transportation by rail through Ethio-Djibouti Railway. Ethiopia's pilot project uses 110 fuel wagons to reduce logistics costs and road network pressure.
• Industry Enhancement Centre (IEC)strategicStrategic or Co-development Partner · 1 December 2025EACOP Ltd signed MoU with IEC to strengthen national content development and support Ugandan SMEs in oil and gas sector. IEC facilitates business opportunities dissemination, joint training programs, and stakeholder engagements. IEC established 2024 by TotalEnergies, CNOOC, and UNOC.
• Baker Hughes EHO LtdstrategicTechnology or Integration · 1 October 2025UNOC and Baker Hughes signed MoU to build technical capabilities and operationalize UNOC's Center of Excellence. Baker Hughes will provide technical training, expertise, and operational support for UNOC's petroleum sector development.
• VIVO Energy UgandastrategicChannel Partner/ Reseller/ Distributor · 1 August 2025UNOC signed LPG Agreement with VIVO Energy Uganda for distribution of Liquefied Petroleum Gas. This supports UNOC's clean cooking fuel initiative to reduce charcoal/firewood dependence.
• Alpha MBM Investments LLCflagshipStrategic or Co-development Partner · 1 April 2025Alpha MBM Investments LLC holds 60% equity in the $4 billion Uganda Refinery project while UNOC holds 40%. The refinery will process 60,000 barrels per day at Kabalega Industrial Park, Hoima. Implementation Agreement signed April 2025 with President Museveni overseeing the signing.
• Sonatrach (Algerian Oil Company)strategicStrategic or Co-development Partner · 1 March 2023UNOC signed MoU with Sonatrach covering oil and gas cooperation in Upstream, Midstream (refining and petrochemicals), Downstream, capacity building, and oil & gas services. Signed in presence of Presidents Museveni and Tebboune.
• One Petroleum Limited (OPL) ConsortiumminorChannel Partner/ Reseller/ Distributor · 1 December 2022OPL consortium (One Petroleum Limited, One Petroleum Uganda Limited, Mbaraki Bulk Terminal Limited) previously operated Jinja Storage Terminal. UNOC took full management and operatorship effective December 2022 after OPL decided to focus on other core businesses.
• TotalEnergies E&P Uganda B.V.flagshipStrategic or Co-development Partner · 1 February 2022TotalEnergies operates the Tilenga Project where UNOC holds 15% participating interest. TotalEnergies holds 56.67% and CNOOC holds 28.33%. The project covers production licenses in Buliisa and Nwoya districts with capacity of 190,000 bpd. FID announced February 2022 alongside Kingfisher and EACOP.
• CNOOC Uganda LimitedflagshipStrategic or Co-development Partner · 1 February 2022CNOOC operates the Kingfisher Development Area where UNOC holds 15% interest. CNOOC holds 56.67% and TotalEnergies holds 28.33%. Project located in Kikuube district with 40,000 bpd peak production capacity. Drilling launched January 2023.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Others

• Vitol: Global energy trader and UNOC's sole petroleum-import counterparty and $2B lender. Comparable as the principal trading partner enabling UNOC's downstream franchise, though not a state-owned NOC.

Broad incumbents

• Sonatrach: Algeria's state-owned national oil company and one of the largest in Africa. Already a UNOC partner (MoU signed 2023 covering upstream, midstream, downstream). Comparable as an established African NOC with full value-chain operations, though significantly larger and more mature.
• PetroSA: South Africa's state-owned entity involved in upstream gas-to-liquids and petroleum operations. Comparable as a sub-Saharan African NOC operating in refining, GTL, and exploration, though serving a different geography.
• TotalEnergies E&P Uganda: Operator of the Tilenga Project in which UNOC holds a 15% participating interest. TotalEnergies is a peer/partner with overlapping upstream interests in Uganda's Albertine Graben and provides the operational benchmark for UNOC's portfolio assets.

Direct peers

• Ghana National Petroleum Corporation (GNPC): Ghana's national oil company with participating interests in upstream production and midstream infrastructure. Comparable to UNOC as an African NOC of similar scale holding state equity in Jubilee/TEN fields and developing a national petroleum value chain.
• Tanzania Petroleum Development Corporation (TPDC): Tanzania's national oil company and partner in the EACOP pipeline alongside UNOC. TPDC is a direct peer as the neighbouring state oil company on the same regional crude-export infrastructure and in similar upstream/midstream development stage.
• Nigerian National Petroleum Company (NNPC): Nigeria's state-owned national oil company operating across upstream, midstream, and downstream. NNPC is the closest direct peer to UNOC in scale-model terms — a government-owned commercial entity managing national petroleum interests across the full value chain in an African market.
• Kenya Pipeline Company (KPC): Kenya's state-owned pipeline operator in which UNOC holds a 20.15% stake. Directly comparable as a regional petroleum midstream/pipeline company serving East African fuel transport; UNOC's largest institutional investment is in this peer.

Regional players

• Petroleum Authority of Uganda (PAU): Uganda's upstream petroleum regulator, operating in the same national petroleum ecosystem as UNOC. Comparable as a domestic counterpart whose licensing, PSA, and regulatory decisions shape UNOC's commercial mandate.

Emerging players

• National Petroleum Corporation of Namibia (NAMCOR): Namibia's emerging national oil company with upstream exploration interests. Comparable to UNOC's exploration-stage posture (e.g., Kasuruban block) as another African NOC at an earlier commercialization phase.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Uganda National Oil Company