Key Private Sector Actors to Attend Tanzania-Uganda Oil and Gas Symposium

Preparations for the Tanzania-Uganda Oil and Gas Symposium gained momentum with key private sector players confirming their attendance.

The high-level event will be held at the Julius Nyerere International Convention Center in Dar es Salaam, Tanzania on November 26.

“Many major players in the oil and gas industry will honor this important occasion,” said Richard Kabonero, Uganda’s envoy to Tanzania on Monday afternoon.

Kabonero made the remarks after meeting with the Hon. Janvier Makamba, Tanzanian Minister of Energy.

Kabonero said today’s meeting focused on “bilateral cooperation and the upcoming Tanzania-Uganda Oil and Gas Symposium”.

This highly anticipated function will see private sector actors network, learn and share experiences and opportunities within oil and gas industry projects.

Key private sector players expected at the event include Patrick Mweheire, East Africa and Chairman of the Uganda Chamber of Mines and Petroleum at Stanbic Bank; Anthony Kituuka – Executive Director Equity Bank; Abdulsamad Abdulsamad, president of the Tanzania Oil and Gas association and Olivia Byanyima, finance and investment specialist.

Others include Santina Benson, Executive Director of the Tanzania CEOs Roundtable; Zachy Mbenna, Director of Member Services at the Tanzania Private Sector Foundation; Elly Karuhanga – Director of the Uganda Private Sector Foundation and Professor Charles Kwesiga, Executive Director of the Uganda Industrial Research Institute.

The Executive Director of Stanbic Bank Uganda, Anne Juuko, Alphayo Kidata, the Commissioner General of the Tanzania Revenue Authority and his Ugandan counterpart, John Rujoki Musinguzi as well as the Deputy Director General of the National Social Security Fund (NSSF) Patrick Ayota will be present.

Uganda and Tanzania are spearheading the construction of the 1,443 kilometer East African crude oil pipeline that will see the export rate of more than 200,000 barrels of oil per day.

The $ 3.5 billion pipeline will increase foreign direct investment from Uganda and Tanzania by more than 60% during the construction phase. More than 500,000 tonnes of material will be imported into the country.

Sensitization

However, officials say that a major challenge facing private sector actors within the oil and gas industry is limited knowledge of the opportunities and areas of partnership available, in addition to gaps in knowledge about the regime. legal and regulatory, and poor coordination between and between public and private sector actors.

This limits their ability to plan strategically, even when they are able to overcome financial and human resource challenges, to contribute local content.

Some of the key players from government and the private sector who will attend the function

Kabonero says the TUOG Symposium will provide a platform for the private sector to network, understand industry opportunities and challenges, showcase their capabilities through experience sharing, and interact with public sector actors on issues. laws and policies governing the industry in Uganda and Tanzania. .

“Discussions will focus on current activities with EACOP and other oil and gas projects, and how to unlock national participation and local content as a means of wealth creation for our people and sustainable economic development. for our countries, ”said Kabonero.

In recent weeks, government stakeholders have courted Parliament’s Environment and Natural Resources Committee (ENRC) to support the enactment of the Pipeline Law.

Attorney General Kiryowa Kiwanuka said the EACOP Act would domesticate an existing treaty between Uganda and Tanzania before the EACOP company embarked on construction of the pipeline.

“We have done a great job on this bill, and if I may, you should consider accepting it as is,” the attorney general said, adding that the law would operationalize the business enterprise in Uganda, by Tanzania and other project partners.

“The law will launch the commercialization of Uganda’s oil and gas resources and allow upstream partners to make the long-awaited final investment decision and advance the development of the oil sector,” he added.

The two countries hope to begin construction of the pipeline in early 2022, according to officials from the Energy Ministry.

The pipeline will be 1,443 km long between Hoima in Uganda and the port of Tanga in Tanzania (296 km in Uganda and 1,147 km in Tanzania).

The pipeline will cross Uganda’s ten districts of Hoima, Kikuube, Kyankwanzi, Kakumiro, Mubende, Gomba, Sembabule, Lwengo, Rakai, and exit through Kyotera.

The Uganda National Oil Company (UNOC) represents Uganda’s commercial interest in the project.

The partners of the EACOP joint venture are TotalEnergies (62%), UNOC (15%), Tanzania (15%) and CNOOC (8%).

Uganda’s total funding requirement (UNOC) for EACOP is US $ 293 million. The government has already advanced US $ 130 million to ONUC for the first fundraising appeal.

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