KAMPALA, Uganda — Uganda’s oil and gas sector is poised for significant growth, with investments expected to reach at least $2.81 billion domestically in 2025, according to the Petroleum Authority of Uganda (PAU).
PAU Executive Director Ernest Rubondo said total investments in the sector had reached $9.96 billion by the end of 2024, with $1.9 billion invested in 2023 and $2.44 billion in 2024.
The investments are expected to create over 15,169 jobs, with 89% of those positions going to Ugandans.
Uganda’s oil reserves are estimated at 6.5 billion barrels, with 1.4 billion barrels recoverable, positioning the country as a key player in East Africa’s energy landscape.
Major projects, including the East African Crude Oil Pipeline (EACOP), operated by TotalEnergies and China’s CNOOC, are driving the sector’s growth.
EACOP Ltd. recently secured external financing for the pipeline, with funding from a syndicate of financial institutions.
Rubondo emphasized the importance of national content, saying the sector will create value in the Ugandan economy, achieve in-country value creation and retention, and develop national human capital in oil and gas and related disciplines.
In a related development, Uganda recently entered into an agreement with UAE-based Alpha MBM Investments to acquire a 60% stake in the Kabale refinery, located in the country’s Hoima region.
The Kabale refinery is expected to have a processing capacity of 60,000 barrels per day, converting Uganda’s crude into various petroleum products.
