Uganda’s Energy Minister Ruth Nankabirwa Ssentamu is set to showcase the country’s remarkable energy success story at the upcoming Africa Oil Week (AOW) Investing in African Energy event.
Uganda, once an unrecognized energy producer, has made significant strides in developing its oil and gas sector. With an estimated 6.5 billion barrels of oil in place and 1.4 billion barrels deemed technically recoverable, the country is poised to become Africa’s next major energy player.
The minister will deliver a keynote presentation on Uganda’s upstream oil and gas opportunities, highlighting the country’s advanced upstream development and favorable investment climate. Uganda’s energy sector is driven by several key projects, including the Kingfisher field, part of a $10 billion project to develop oil reserves under Lake Albert, and the Tilenga field.
Additionally, the East African Crude Oil Pipeline will transport crude oil to international markets via Tanzania’s Tanga Indian Ocean port. Uganda has made significant regulatory progress, implementing robust policies and frameworks to ensure a favorable investment climate for international energy companies.
The AOW event, now in its 30th year, brings together industry leaders to develop policy, share discoveries, secure investment, and shape Africa’s energy future. This year’s event will take place from October 7-11, 2024, at the CTICC 2 in Cape Town.
Minister Nankabirwa’s keynote presentation is expected to attract significant attention from investors and industry leaders, as Uganda prepares to start pumping its first oil next year.
“Our country’s upstream development is well advanced,” said Minister Nankabirwa. “Uganda is now able to offer investors the predictability they need above ground. I look forward to unpacking the wealth of energy opportunities at AOW and discussing them with potential partners.”
The event is organized by Africa Oil Week (AOW) in partnership with the Uganda Ministry of Energy and Mineral Development.
