Uganda's ministry of energy and mineral development officials, led by Hon. Eng. Irene Muloni, the line minister, are in South Africa attending the Africa Oil Week 2019 which commenced on November 4 and ends on 8th November.
The officials are using the high profile event in Cape Town, South Africa to interact and interest potential investors to come and do business in Uganda.
Muloni, speaking at the event which is running between 4th to 8th November 2019 in Cape Town, South Africa, said Uganda has a highly progressive and lucrative hydrocarbon sector.
“Over the course of the week we will hold a National Showcase, highlighting the ongoing second licensing round for oil exploration, which covers five highly prospective blocks with relatively good seismic and other data. Uganda is open for business,” the minister is quoted in a statement shared by her people.
Uganda’s Oil and Gas sector offers exciting opportunities for investment in the ongoing exploration activities in the three licensed blocks; the recently announced second licensing round for petroleum exploration covering five new blocks; preparation of the discovered oil fields in the Kingfisher and Tilenga projects for production; and putting in place infrastructure commercialisation of the discovered 6 billion barrels of in place oil and gas resources.
“During the Africa Oil Week, we will detail our Government’s strategy to ensure the oil and gas sector provides value to both the investors and the country. We will host private meetings with the global private sector in order to attract investment in the highly lucrative projects.” Hon Muloni added.
Mr. Ernest Rubondo, Executive Director of the Petroleum Authority of Uganda, the country’s oil and gas regulatory agency went on to say “Uganda’s oil and gas sector, offers a highly stable regulatory and institutional environment, that is structured to position the country as a sound investment destination. Africa Oil Week brings together a wide network of Global Oil and Gas operators and Governments in Africa. We therefore look forward to meeting with our colleagues from other nations, together with the operators, investors, service companies during thus years’ Africa Oil Week.”
Ms. Proscovia Nabbanja, the Chief Executive Officer of the Uganda National Oil Company (UNOC) also added that the Uganda National Oil Company (UNOC) is delighted to be part of a large premier platform at the AOW that allows them to network and share information on our strategic projects. “UNOC strongly believes in strategic partnerships and AOW provides the right platform for this”.
This development highlights the importance of the Oil Week and the fact that it continues to drive new business opportunities for Exploration and Production companies in Africa. On top of the 12 confirmed ministers who will lead delegations to AOW, we now have a partnership with the Government of Uganda to host a huge opportunity for the global private sector to exclusively engage and hold private meetings regarding oil and gas opportunities at Africa Oil Week.
Uganda welcomes all delegates at the Africa Oil Week 2019, that started on 4th and will run till 8th November, 2019, to partner in one of the most commercially viable and prospective oil and gas environments in Africa. On 6th November, 2019 at 4pm, the Uganda delegation, will promote the country’s second licensing round and other opportunities for investment.
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