The 8th Annual Oil and Gas Convention unlocks lustrous prospects for Ugandan businesses

Stakeholders representing private and public sector received critical insights into the region’s oil and gas developments at the 8th Annual Oil and Gas Convention that took place on 12 – 13 April 2022 in Kampala, Uganda. The Oil and Gas Convention is a strategic place for actors to meet, network, exchange ideas and initiate partnerships aimed at enhancing capacity and value retention from the development phase of the Albertine Oil and Gas Project. Top of the agenda this year was updates on contracts so far awarded, procurements plans, project timelines and Environmental Social Governance issues among so many others.

Running under the theme ‘Maximizing National Content and Value Retention’, delegates welcomed updates on the various prospects available as developments of the Tilenga and Kingfisher oil fields and the 1,445km East African Crude Oil Pipeline take shape. At least $15 Billion is expected to be spent in getting Uganda’s oil industry to commercial production stage by 2025.

According to the Petroleum Authority Uganda (PAU), contracts worth over $600 Million out of $3.9 Billion for the Tilenga and Kingfisher projects have so far been committed to Ugandan companies. Local companies such as Excel Construction, Beta Projects, Future Options Consulting, BTS Clearing and Forwarding Ltd, GCC Zoramu Consulting Group, SKYZ, Bemuga, Q-Sourcing, Threeways Shipping Services and True North are executing various contracts under joint ventures with foreign firms.

Mr. Patrick Mweheire, the Uganda Chamber of Mines and Petroleum (UCMP) Chairman applauded the amazing level of transparency from international oil companies and contractors whom he said shared very useful information at the convention. “At least everyone now knows what opportunities are available and which ones have already been given out. About $4 Billion worth of contracts have been awarded already but since these are $15 to $20 Billion projects, there is still so much more to come. Our call to Ugandans is to use this information diligently and prepare adequately so that they win themselves these contracts,” he said.

The convention is a timely meeting for policymakers, global investors, oil and gas companies, lawyers, consultants and other stakeholders to receive information about the state of exploration and production, as well as the challenges and opportunities that lie ahead. The agenda is usually developed with consultation from all major stakeholders to ensure it is of value and relevance to everyone interested in Uganda.

The annual convention is organised by the Uganda Chamber of Mines and Petroleum (UCMP) in partnership with the Ministry of Energy and Mineral Development (MEMD), with support from the Petroleum Authority of Uganda, the oil gas Joint Venture Partners and other industry stakeholders.