CNOOC officials hand over awards to the best academic performers in Hoima and Kikuube Districts recently.
(Photo by John Kibego)
China Offshore Oil Corporation (CNOOC) has closed the Hoima office, halted its social responsibility activities and downsized its human resource, reveals the company’s community liaison manager, David Kagoro Byaruhanga.
Speaking during a stakeholders’ engagement organised by Kitara Development Initiative (KITADI) at Trisek Hotel in Hoima Town on Monday, Byaruhanga disclosed that CNOOC has closed its regional office opting to concentrate on the Buhuka office in Kikuube district.
The office closure has had a bearing on human resource by trimming the manpower. The community liaison manager disclosed that the company has also suspended activities like sponsoring the Bunyoro kingdom Amasaza Cup, awarding the best students in the Albertine Graben and sponsoring corporate end of year parties.
This has been done to cut costs, Byaruhanga said. “CNOOC has down-scaled some of its activities due to the high costs involved.
The company has not yet started reaping profits from its investment and continuing spending money in such activities and having many offices makes it incur losses”.
“The company is still injecting money into the investment and spending at this rate is being not business cautious”, he told the participants.
