Private Sector Urged to Embrace Oil and Gas Opportunities

Two years left and the country’s oil and gas sector will be expected to deliver the first actual oil from the Ugandan soil. Several projects including the construction of the pipeline, the refinery and central processing facilities are expected to be complete by 2020. These present several opportunities that stakeholders in the oil and gas sector argue the private sector players to take advantage of other than sitting back. “We do not want to see Ugandans as onlookers, we have taken a lot of time as a country to get to this level. It would be a shame if at the end of the day we do not see many of the Ugandans involved in the process of producing oil and running it.” Said, Richard Kaijuka – Vice Chairperson, UCM. “One of the key areas that we encourage many of you to participate in training our people not only to be able employed but also to be able to provide services.” Said, Robert Kasande – PS, Ministry of Energy. “Now for insurers, bankers and so on, service providers and logistics, name it; people who are in agriculture, the sky is the limit.” Said, Richard Kaijuka – Vice Chairperson, UCM.

The government also has a part to play when it comes to the construction of oil roads most of which construction has not yet begun. But according to the National Roads Authority, there was hope that the roads would be read by 2020. "That we will do whatever we can to make sure roads do not become a hindrance to the delivery of oil by 2020." "You have basically elaborated how fast you are moving in fixing these oil roads, but me being a Ugandan seated here am wondering; are you going to deliver in two years? This would be a record time that UNRA has done roads in two years." "Because of the critical nature and the timelines set for the works to be completed by 2020, we embedded in the bidding document requiring the contractors to pre-finance the works during this period when we are carrying out the approval of the loan. Just for the sole reason that we should not lose the 8 or 12 months that will be involved in the processing of the loans. So that's what we have done." These as the Uganda Chamber of Minds hosts the fourth Annual Oil and Gas Convention themed on regional collaboration for first oil with a focus on opportunities that the sector presents.