Minister Nankabirwa to highlight investment opportunities at Africa Oil Week 202

KAMPALA – Ruth Nankabirwa Ssentamu, the Minister of Energy & Mineral Development will once again speak at Africa Oil Week [AOW], taking place in Cape Town, South Africa from October 9-13, 2023.

According to the organisers of [AOW] Nankabirwa will build on the message she delivered to investors and industry stakeholders last year when she called for a more just and fair understanding of Africa’s energy priorities.

Uganda has imposed itself as one of Africa’s hottest energy frontiers as drilling is underway at the Lake Albert Development Project, split into the TotalEnergies-operated Tilenga project and the CNOOC-operated Kingfisher project. Both developments are expected to achieve first oil in 2025 and help Uganda produce some 200,000 barrels of oil per day.

Oil will be exported via the East Africa Crude Oil Pipeline [EACOP], a 1,443km line between the town of Kabaale in western Uganda and the port of Tanga in Tanzania. Part of Uganda’s oil will also be reserved for the domestic market, where a final investment decision [FID] is expected soon on the 60,000 barrels per day Albertine Graben Refinery.

Beyond oil & gas, Nankabirwa Ssentamu also oversees Uganda’s ambitions energy development programme. Thanks to several hydropower plants, Uganda’s electricity mix is already largely dominated by renewable energy sources, with thermal power generating representing less than 10 percent of the country’s electricity mix.

Uganda is also about to commission the 600 MW Karuma Hydropower Plant, which will significantly grow its clean electricity generation capacity this year.

But rapidly growing energy demand means that Uganda must continue to attract investments into the expansion of its power sector, especially hydropower and solar generation plants, and related transmission and distribution infrastructure. In 2021, only 45 percent of Uganda’s population had access to electricity and only 1 percent had access to clean cooking, according to the SDG 7 Energy Progress Report.

In 2023, Ruth Nankabirwa Ssentamu will bring a strong voice to the AOW 2023 as she advocates for additional investments in Uganda and East Africa’s energy sector and a truly inclusive and sustainable development of Africa’s natural resources.

https://thecooperator.news/tilenga-oil-project-govt-gives-paps-one-month-ultimatum-to-accept-cash/

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