United Kingdom Prime Minister’s Trade Envoy to Uganda and Rwanda Lord Dolar Poppat has today led the Energy Industries Council (EIC) Delegation to statehouse in Kampala to meet President Yoweri Museveni.
President Museveni warmly welcomed the delegation to Uganda saying that partnership between the United Kingdom and Uganda is important for business to grow and thrive between the two countries.
“Business means two players: the producer of a good or service and the consumer. If you do not have those two people, you do not have business,” he remarked.
Mr. Museveni added that the other actors that make business thrive, such as security and infrastructure development, have been achieved in Uganda.
“We have got enough power, transport routes are improving and the manpower is now more educated,” he said.
The delegation who have been in the country since Monday are hoping to tap from the huge oil and gas projects being undertaken in Uganda with The Lake Albert Development, the proposed oil refinery and the planned pipeline to Tanzania already having British involvement.
Other than meeting the President the delegation will also tour the various oil fields in the country as well as be adviced on the available opportunities for investment.
“Our oil and gas sector has amazing expertise and has long-been an outward-looking industry. At a time when both Britain and the energy industries are searching for potential new markets, I believe Uganda offers one of the best solutions,” said Lord Poppat.
Among areas that have been highlighted as holding the highest potential for investors include waste management and training as well as pipeline construction. Already a UK company Logstor together with MFRI have formed a consortium to bid for the construction of the East Africa Crude Oil Pipeline (EACOP) project.
The 16-man delegation, led by Lord Popat and the British High Commissioner to Uganda, Mr. Peter West, included consultants in the oil and gas sector, bankers, manufacturers of pipeline equipment and engineers, among others.
Just last month a delegation from Scotland a delegation of 12 Scottish oil & gas supply chain companies and technical skills providers visited Uganda with the aim of open the doors to a multi-million pound training market in the country.
According to the Ministry of Energy and Mineral Development it is estimated that the full field development will require $15 billion to full field development with the peak production of an estimated 300,000 barrels expected by the year 2030.