Uganda’s High Commissioner to Malaysia Dorothy Samali Hyuha has called on Malaysian businesses to participate in oil and gas (O&G) exploration activities in the country. She was recently speaking in the Asian nation during Uganda’s 56th Independence Day celebration.
Hyuha said the country was building the 1,445km East African Crude Oil Pipeline (EACOP) that connects Uganda’s oil fields to Tanzania’s Port of Tanga on the Indian Ocean to facilitate easier export of crude oil.
She said there was potential sectors for investments, including construction, information and communications technology, telecommunications and value added agriculture products.
“Our bilateral relations are growing from strength to strength. We have cooperation in many areas and O&G is another area to explore,” she said. Uganda discovered oil deposits now worth 6.5 billion barrels in the Albertine Rift Basin in 2006.
The country is looking at setting up a refinery to feed refined petroleum products to the local and East African market and an export pipeline to export crude to international market.
A Nigerian and Aussie exploration companies were recently contracted to undertake further exploration in the oil rich grabben. Uganda is expected to call for bids to select oil companies that will be awarded with more accrage to explore for oil.
Uganda also has 500 billion Standard cubic feet of natural gas reserves in its Albertine Graben region.