The parliament in Uganda's Bunyoro Kingdom will meet Saturday to agree ways to secure a 5%-10% share of oil revenue once production starts, a kingdom spokesman said Friday.

Henry Ford Mirima said the revenue from central government would mainly pay for the development of infrastructure in the kingdom where vast reserves have been found in oil blocks 1,2 and 3A.

"We have also asked the central government to reveal to us details of the oil production agreements," he said.

U.K.-based Tullow Oil PLC (TLW.LN) and London-listed Heritage Oil PLC (HOIL.LN) own block 1 and 3A jointly while Tullow Oil is the sole owner of block 2. The three blocks are estimated to contain around 2 billion barrels of oil, according to government and company officials.

According to Mirima, the kingdom wants to push for an internationally recognized oil revenue-sharing agreements with government.

"Similar oil revenue agreements have been entered between oil regions and governments in countries like Norway and Iraq," he said.

The Ugandan government spokeswoman couldn't comment immediately.

Bunyoro is the second largest kingdom in Uganda. Although the monarch is prohibited from participating in partisan politics, it has a large following in the oil-rich region.

Last week, around 300 local chiefs said they would boycott the 2011 presidential and parliamentary elections accusing government of not introducing reforms to guarantee land and political rights of the indigenous Banyoro tribe.

Uganda is expected to start oil production in two to three years time.

   -By Nicholas Bariyo, Dow Jones Newswires; +256 75-262 4615; bariyonic@yahoo.co.uk
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