Uganda’s elites in the oil and gas business are convening at Speke Resort Munyonyo to deliberate on what Uganda needs to do to have a prosperous oil and gas industry. Dr. Elly Karuhanga speaking to journalists a week before the convention said the conference aims at preparing Ugandans for the oil boom because they are not ready.
The three day convention has attracted global speakers who will discuss what it will take Uganda, a first time oil producer, to start from zero going up all the way to top of oil producer elites. The convention is pushing the local content agenda. It is also expected to explain the risks involved so that business people don’t burn their fingers.
Speaking at the opening of the convention, Mr. Ernset Rubondo, the Executive Director of Petroleum Authority of Uganda, explained that oil & gas developments in Uganda are contributing to growth of other sectors of the economy through creation of linkages. These include Agriculture, Tourism, Housing, Manufacturing, Transport and Education, which will ensure lasting value to the country.
Mr. Rubondo said the Authority is determined to build capacity of the economy to facilitate petroleum development and help industry players to take advantage of the opportunities the oil and gas sector is bringing to the county
He revealed that the process is ongoing to have the Finala Investment Decision given government’s strategic investment in roads, second international airport, capacity building & institutional development among other areas. “We now await FID to be taken by our partners during 2019,” he said.
The theme of the convention organized by Uganda Chamber of Mines and Petroleum and Ministry of Energy and Mineral Development is "2019 Decision Time: "Countdown to Commercialization.”