KAMPALA, September 30, 2024 — Uganda Minister of Energy and Mineral Development Ruth Nankabirwa Ssentamu describes how the country became one of the great new energy frontiers on the continent, as a keynote speaker at the forthcoming AOW Investing in African Energy event.
The address promises to be one of the highlights of the four-day event, with Uganda set to start pumping its first oil next year, after 20 years of prospecting, investing and construction. From not being a recognised energy producer, the country is now in the midst of an oil and gas boom, and poised to become Africa’s next major energy player.
Minister Nankabirwa will deliver her keynote presentation on the upstream oil and gas opportunities that the dynamic East African nation offers for global investors.
With an estimated 6.5 billion barrels of oil in place and 1.4 billion barrels deemed to be technically recoverable, the Republic of Uganda offers undeniable development potential for the international oil and gas sector.
“Our country’s upstream development is well advanced,” says 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 crown jewel of Uganda’s oil industry is the Kingfisher field, part of an ambitious $10 billion project to develop oil reserves under Lake Albert in the west of the country. Kingfisher, and the neighbouring Tilenga field, are part of a project that also involves constructing a pipeline to transport crude oil to international markets via Tanzania’s Tanga Indian Ocean port.
Besides achieving several milestones on the Kingfisher and Tilenga projects, Uganda has also made rapid regulatory progress, implementing robust new policies and frameworks to ensure a favourable investment climate for international energy companies looking to enter the country.
Uganda’s extensive petroleum resources and encouraging progress in developing them make it an exciting case study for investors, prospective partners and government leaders from other African energy frontiers.
Minister Nankabirwa’s keynote is likely to be one of the main attractions of the AOW event, and will offer insights, as well as a unique chance to gain direct access to Uganda’s energy role players.
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