Uganda’s Ennergy Minister Hon. Ruth Nankabirwa has held bilateral talks with her counterpart the UAE Minister of Energy and Infrastructure , H.E Suhail Mohamed Al Mazrouei . The meeting took place in Dubai where Hon. Nankabirwa has been busy for the last couple of days -explaining Uganda’s energy agenda and promoting the available opportunities in the sector for foreign direct investments .
Hon. Nankabirwa has also participated in the Abu Dhabi International Petroleum Exhibition and Conference where which participated in penal discussion about the development of Uganda’s energy sector . The Ugandan delegation is seeking to gain insights on strategic issues facing the global energy industry and business and investment opportunities – while also looking forward to – sharing experiences about post-COVID-19 economic recovery strategies.
East African region has largely been underexplored and is now emerging as a premier destination for oil and gas exploration and development. Compared with some 15,000 wells drilled in West Africa, only 500 wells have been drilled in East Africa.
“The discovery of petroleum in Uganda, South Sudan and more recently in Kenya, together with the exploration and production of gas in Tanzania and Mozambique, confirm that the East African region is emerging as a new and exciting frontier for Oil and Gas Exploration and Investment within Africa,” Nankabirwa told her counterpart .
The Minister added ; “despite the challenges of oil price volatility; anxiety over whether the development of unconventional resources will create oversupply, whether energy efficiency initiatives and renewables will significantly reduce dependency on hydrocarbons, we have a shared responsibility of ensuring energy security for our people. This must be undertaken within the confines of Environmental Sustainability.”