Uganda is getting ready to showcase and market its petroleum potential as it hosts the 10th East African Petroleum Conference and Exhibition (EAPCE’23).
The 10th edition of the conference (EAPCE’23) organized by all members of East Africa partner states and will take place between 9th-11th May 2023 at Kampala Serena Hotel.
The theme of the conference and the exhibition under the East Africa Community Treaty is “East Africa as a hub for Investment in Exploration and Exploitation of Petroleum Resources for Sustainable Energy and Socioeconomic Development”
Uganda should have hosted this biannual conference two years ago but it was postponed following the outbreak of COVID-19. Covid-19 led to a slowdown in the oil and gas sector.
The Energy and Minerals Development Minister, Ruth Nankabirwa in a speech announcing the EAPCE’23 said the conference after a Final Investment Decision for the Tilenga, Kingfisher, and East African Crude Oil pipeline will have more people seeking opportunities in Uganda’s oil and gas.
This is the second time that Uganda is hosting the conference organized on a rotational basis among the East African Community member states.
Nankabirwa in a speech read for her by the Acting Director of Petroleum, Honey Malinga said the conference has created opportunities for the EAC partner states and the private sector through sharing information on investment opportunities in oil and gas.
The conference and exhibition come at a time when the government has just concluded the second licensing round for new exploration areas in the Albertine.
The Minister of Energy early this month signed production-sharing agreements(PSAs) and awarded an exploration license to Uganda National Oil Company (UNOC) for the Kasuruban area. UNOC’s Head of Exploration and New Ventures, Lyoidah Kiconco told URN that they plan to use the conference to seek potential partners as the company embarks on exploration.
Nankabirwa had previously announced that she would make announcements for the third competitive licensing round for oil blocks as it has been in the past. But Malinga told journalists that it is unlikely that will happen as it has been in the past. He said the process of new blocks and licensing was yet to be approved by the cabinet.
Uganda’s resource base currently stands at 6.5 billion barrels of oil in place. It is expected that more discoveries through exploration may increase the resource base beyond 6.5 billion.
East Africa Petroleum Conference and Exhibition offers a wide range of technical presentations reflecting developments in the oil and gas industry in East Africa and around the world.
Secretary General East African Community, (Dr.) Peter M. Mathuki last week said EAPCE’23 will provide a unique forum for dialogue for all players in the oil and gas industry at both the regional and international levels.
The conference also gives stakeholders in the oil and gas sector an opportunity to interact with EAC senior government officials and decision-makers.