{"id":5477,"date":"2022-04-21T11:52:49","date_gmt":"2022-04-21T11:52:49","guid":{"rendered":"https:\/\/ugandaupdatenews.com\/?p=5477"},"modified":"2022-04-21T11:52:57","modified_gmt":"2022-04-21T11:52:57","slug":"oil-and-gas-conventionwhat-opportunities-for-ugandans","status":"publish","type":"post","link":"https:\/\/prowebinhost.com\/anzu\/oil-and-gas-conventionwhat-opportunities-for-ugandans\/","title":{"rendered":"OIL AND GAS CONVENTION:WHAT OPPORTUNITIES FOR UGANDANS"},"content":{"rendered":"\n

The big boys in Uganda’s Oil and Gas sector convened at the 8th<\/sup>\u00a0Uganda Chamber of Mines and Petroleum (UNCMP) oil convention held at Serena Hotel in Kampala and highlighted the opportunities the industry will offer to the Ugandan people .<\/p>\n\n\n\n

Key sector players presented opportunities that are available in the multibillion dollar sector following the Final Investment Decision (FID) that was announced on February 1, 2022. The two day convention held under the theme\u00a0 \u201cMaximizing National Content and Value Retention\u201d,\u00a0<\/em>highlighted opportunities in the Tilenga and Kingfisher oil fields and along the 1,445 km East African Crude Oil Pipeline (EACOP) . some $15 billion has been put aside to commercialize Uganda\u2019s oil industry by 2025.<\/p>\n\n\n\n

The delegates said that contracts estimated at over $600 million out of the $3.9 billion for the Tilenga and Kingfisher projects have been awarded to Ugandan companies. Among the local companies that have been contracted include Mota Engil-Uganda civil works’ contract to prepare over 700 acres of industrial area for TotalEnergies EP, Uganda\u2019s Tilenga project to host different facilities like the Central Processing\u00a0 facility\u00a0 (CPF),\u00a0 construction of camps,\u00a0 drilling support\u00a0 bases and operation support bases.<\/p>\n\n\n\n

Others are Excel Construction, Beta Projects, Future Options Consulting, BTS Clearing & Forwarding Ltd, GCC, Zoramu Consulting Group, SKYZ, Bemuga, Q-Sourcing , Threeways Shipping Services .<\/p>\n\n\n\n

Mr.Earnest Rubondo, the Executive Director PAU said 28% ($980m) was retained in- country from the $ 3.5 billion total investment during the first exploration phase. Another 37% ($172m) was retained in-country between 2017 and 2020 from a total investment of $462m. It is hoped that about $5 billion will be retained in Uganda during the development phase.<\/p>\n\n\n\n

\u201cIf the linkages between the oil sector and the different sectors like agriculture, health, transport, housing, tourism and civil works are properly harnessed, the economy will retain an additional $8 billion.\u201d<\/p>\n\n\n\n

The Minister of Energy and Mineral Development Hon. Ruth Nankabirwa, told participants at the convention that at least 4500 Ugandans had been skilled to work in the oil sector following a collaboration with over 120 institutions. The government of Uganda was also putting together a Local Content Development Fund to enable more Ugandans pursue oil and gas business opportunities, Nankabirwa added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The big boys in Uganda’s Oil and Gas sector convened at the 8th\u00a0Uganda Chamber of Mines and Petroleum (UNCMP) oil<\/p>\n","protected":false},"author":1,"featured_media":5478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[168,65],"tags":[],"class_list":["post-5477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-development","category-national-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2022\/04\/nak.jpg","jetpack-related-posts":[{"id":8849,"url":"https:\/\/prowebinhost.com\/anzu\/international-university-of-east-africa-to-host-inaugural-oil-and-gas-skills-expo\/","url_meta":{"origin":5477,"position":0},"title":"INTERNATIONAL UNIVERSITY OF EAST AFRICA TO HOST INAUGURAL OIL AND GAS SKILLS EXPO","author":"UgandaUpdate","date":"April 27, 2023","format":false,"excerpt":"A head of the International Oil and Gas Conference to held in Uganda from May 9th to 11, 2023, the International University of East Africa has organised the first oil and gas skills\u00a0 expo -slated for April 28th and 29th at the IUEA campus in Kansanga Ggaba Road, Kampala.\u00a0 The\u2026","rel":"","context":"In "Oil and gas"","block_context":{"text":"Oil and gas","link":"https:\/\/prowebinhost.com\/anzu\/category\/oil-and-gas\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/04\/coment003-pix.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/04\/coment003-pix.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/04\/coment003-pix.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/04\/coment003-pix.jpg 2x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/04\/coment003-pix.jpg 3x"},"classes":[]},{"id":4607,"url":"https:\/\/prowebinhost.com\/anzu\/energy-ministry-calls-upon-investors-to-take-advantage-of-the-key-investment-opportunities-in-uganda-oil-and-gas-sector\/","url_meta":{"origin":5477,"position":1},"title":"Energy Ministry calls upon investors to take advantage of the key investment opportunities in Uganda\u2019 oil and gas sector","author":"UgandaUpdate","date":"November 20, 2021","format":false,"excerpt":"By Sierra Ruth Arinaitwe Uganda\u2019s Minister of Energy and Mineral Development Hon. 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