Oil & Gas

Museveni starts three day working visit to Tanzania as oil and gas symposium opens

President Yoweri Museveni has started a three-day working visit to Tanzania where, together with President Suluhu, they will hold talks on the progress of the $3.5 billion EACOP project to be jointly constructed between the two countries, and which is expected to connect Uganda’s oil fields to Tanzania’s port of Tanga.

Minister of Energy and Mineral Development and Ugandan Higher Commissioner to Tanzania, Richard Kabonero (PHOTO /Courtesy)

The Minister of State for Foreign Affairs in-charge of International Cooperation Henry Okello Oryem and John Mulimba, the Minister of State for Foreign Affairs in-charge of Regional Cooperation both will accompanied President Museveni.

Others on the Ugandan delegation also include Minister Energy and Mineral Development Ruth Nankabirwa.

President Museveni’s to Tanzania is expected to bolster the existing excellent bilateral relations and deepen cooperation between Uganda and Tanzania.

President Museveni is expected to give a keynote speech during the private sector organised symposium that is set to discuss opportunities presented by the 1,445km East African Crude Oil Pipeline (EACOP) project.

The two countries in April this year signed the Host Government Agreement, Share Holder Agreement (for the pipeline company) and Tariff agreements, three key agreements to kick off the construction of the East African Crude Oil Pipeline (EACOP) with France’s total and China’s CNOOC.

But the project still faces financing blues after some European lenders walked away from requests to finance it.

The EACOP project is expected to create over 5,000 jobs directly and over 20,000 others indirectly.

According to an earlier statement by Tanzania’s private sector foundation, the symposium, which kicked off on Friday at the Julius Nyerere International Convention Centre in Dar es Salaam, is expected to increase private awareness of the legal, policy and regulatory frameworks for oil and gas in Uganda and Tanzania and create synergies and areas of cooperation between private sector companies in the two countries.

Participants will include Tanzania and Uganda private and public stakeholders in the oil and gas industry, private sector associations, legal firms, insurance firms, logistics providers and national oil companies

The symposium is a hybrid event expected to gather in-person over 200 high-level private sector officials from both Uganda and Tanzania, and over 2,000 will follow the discussion virtually.

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  1. Pingback: CHARITY MIGWI: Securing your future or greenwashing? The unpleasant truth about Uganda’s oil – UgStandard

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