KAMPALA, UGANDA- The biggest ever French business delegation to Uganda, made up of more than 45 executives representing more than thirty French companies active in the oil and gas sector was in the country this week to explore investment opportunities in the oil and gas sector.
Simon D’Ujanga, Minister of State for Energy welcomed the delegation to Uganda while emphasizing that Uganda government’s policy is to encourage private sector investment in the Oil and Gas industry.
He listed various incentives that have been put in place to this effect, including favorable fiscal frameworks, access to existing technical information, improved infrastructures, political and economic stability.
D’Ujanga said Uganda’s intent is to promote valuable utilization of oil and gas resources as evidenced by the ambitious oil refinery and pipeline projects.
“To date, 6.5 billion barrels of oil have been discovered with 1.4 to 1.7 billion barrels recovery rates, a 500 billion cubic feet of non-associated gas and under 200billion feet of associated gas, just from 40% of the exploration areas,