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Energy Minister Muloni heads delegates to SA for Africa Oil Week

By George Mangula

Uganda’s Minister of Energy and Mineral Development, Eng. Irene Muloni, is leading a delegation of private and public sector players in the oil and gas sector at Africa Oil Week taking place in Cape Town, South Africa.

According to Muloni, Uganda will be promoting the country`s highly progressive and lucrative hydrocarbon sector during the Africa Oil Week that runs from November 4-8, 2019.

“Over the course of the week, we will hold a National Showcase, highlighting the ongoing second licensing round for oil exploration, which covers five highly prospective blocks with relatively good seismic and other data. Uganda is open for business,” said the minister.

The country’s oil and gas sector offers exciting opportunities for investment in the ongoing exploration activities in the three licensed blocks.

The country recently announced second licensing round for petroleum exploration covering five new blocks, preparation of the discovered oil fields in the Kingfisher and Tilenga projects for production and putting in place infrastructure commercialization of the discovered 6 billion barrels of in-place oil and gas resources.

“During the Africa Oil Week, we will detail our Government’s strategy to ensure the oil and gas sector provides value to both the investors and the country.  We will host private meetings with the global private sector in order to attract investment in the highly lucrative projects,” added Muloni.

According to Ernest Rubondo, Executive Director of the Petroleum Authority of Uganda, the country’s oil and gas regulatory agency said Uganda’s oil and gas sector, offers a highly stable regulatory and institutional environment that is structured to position the country as a sound investment destination.

“Africa Oil Week brings together a wide network of Global Oil and Gas operators and Governments in Africa. We, therefore, look forward to meeting with our colleagues from other nations, together with the operators, investors, service companies during thus years’ Africa Oil Week,” said Rubondo.

Proscovia Nabbanja, the Chief Executive Officer of the Uganda National Oil Company (UNOC) said her body was delighted to be part of a large premier platform at the AOW that allows them to network and share information on our strategic projects.

“UNOC strongly believes in strategic partnerships and AOW provides the right platform for this. This development highlights the importance of Oil Week and the fact that it continues to drive new business opportunities for exploration and production companies in Africa. On top of the 12 confirmed ministers who will lead delegations to AOW, we now have a partnership with the Government of Uganda to host a huge opportunity for the global private sector to exclusively engage and hold private meetings regarding oil and gas opportunities at Africa Oil Week.”

On November 6, 2019  the Ugandan delegation, will promote the country’s second licensing round and other opportunities for investment.

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