Museveni Invited In South Africa To Promote Ugandan Oil & Attract Investors-African Energy Chamber

Museveni Invited In South Africa To Promote Ugandan Oil & Attract Investors-African Energy Chamber

According to African Energy Chamber (AEC), H.E. Yoweri Museveni, President of Uganda, will be participating at African Energy Week (AEW) 2021 in Cape Town, taking place on the 9th-12th of November where he will deliver a Presidential keynote speech.

H.E. President Museveni will be addressing African industry leaders, global energy executives, and oil and gas stakeholders from across the continent aiming at promoting the potential of Uganda’s energy sector, and introducing key opportunities to global stakeholders.

Uganda’s oil and gas industry is considered relatively new, and yet with over 6.5 billion barrels of crude oil reserves and 0.5 trillion cubic feet of natural gas, the country’s potential is well acknowledged. With the presence of international oil companies (IOC) including Tullow Oil, Heritage Oil Plc, TotalEnergies, and China National Offshore Oil Corporation, the country has seen significant progress to expand its oil and gas industry and capitalize on its resources.

IOCs have been actively pursuing upstream campaigns in a bid to open up several key basins in the country, including the Lake Albert Rift Basin. Accordingly, the country has emerged as a prime frontier market for oil and gas stakeholders.

In addition to the active participation of IOCs, the attractiveness of Uganda’s energy sector can be directly attributed to the success of the country’s national oil company (NOC), the Uganda National Oil Company (UNOC).

Under the guidance of the UNOC, Uganda is gradually being positioned as a regional hydrocarbon competitor, with the NOC playing a crucial role in the sector’s advancement.

Notably, the UNOC, representing the government’s commercial interests in the petroleum sector, has overseen some of the country’s biggest project developments including the 190,000 barrel per day (bpd) Tilenga Project; the Kabaale Industrial Park; and the monumental 1,443km, 216,000 bpd East Africa Crude Oil Pipeline. Led by CEO Proscovia Nabbanja – also attending AEW 2021 – the UNOC is scaling up oil and gas projects across the country and driving socio-economic growth.

Under the leadership of H.E. President Museveni, Uganda is redirecting its attention on accelerated energy sector expansion, with industry leaders seeking investment partners to help position the country as a regional hydrocarbon leader. By giving a Presidential keynote address at the continent’s top energy event, H.E. President Museveni will not only place Uganda on the map as an attractive investment destination but will emphasize the country’s role in Africa’s overall energy and economic future.

“The AEC is honored to announce that H.E. President Museveni will be delivering the Presidential keynote address at AEW 2021 in Cape Town. H.E. President Museveni is a strong advocate for Africa’s energy sector and by promoting Ugandan opportunities, the role of enabling regulation, and the power of regional collaboration, he will make a strong play for accelerated investment in Africa’s energy industry. What makes H.E. President Museveni such a valuable participant at AEW 2021, is that as one of Africa’s leaders, he does not only recognize the role that oil and gas will play in the continent’s future but emphasizes the need for enhanced renewable investments to drive the transition to a clean energy future. In Cape Town, H.E. President Museveni will promote every sector in Africa, calling for increased collaboration and integration as the continent moves to make energy poverty history by 2030,” stated NJ Ayuk, Executive Chairman of the AEC.

AEW 2021, in partnership with South Africa’s Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. an accessible web community

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