The African Energy Chamber (AEC), the voice of the African energy sector has announced that African Energy Week (AEW) 2023 will take place October 16-20 in Cape Town, South Africa.
Within the week, the AEW will also host an Invest in Uganda Energies country spotlight session, showcasing the various investment and partnership prospects available across Uganda’s energy sector.
The Invest in Uganda Energies forum at African Energy Week 2023 will unite Ugandan energy regulatory authorities and companies with global partners to discuss the country’s energy future.
The Invest in Uganda Energies spotlight will feature high-level roundtables and panel discussions, technical presentations, exclusive networking and deal signings, the Invest in Uganda Energies forum at AEW 2023 will unite energy policymakers and companies with global investors, laying the foundation for deals to be signed.
Boasting approximately 1.4 billion barrels of recoverable crude oil reserves and significant gas resources, Uganda ranks among Africa’s fastest-growing energy markets and has emerged as an attractive investment destination for global energy companies and investors alike.
As of now, Uganda aims to produce its first oil in 2025, having achieved a final investment decision for the $10 billion Lake Albert Development – comprising the Kingfisher and Tilenga oilfields as well as the 1,443km-long East African Crude Oil Pipeline (EACOP) – alongside TotalEnergies and the China National Offshore Oil Corporation in 2022.
The development not only represents an important avenue for exporting Ugandan crude to international markets via the Port of Tanga in Tanzania but is set to provide a consistent supply of oil to a region in much need of reliable energy.
The Executive Chairman of the AEC, NJ Ayuk on Tuesday in a document he issued commended the efforts being undertaken by the Ugandan government to fast-track the development and monetization of both hydrocarbon and renewable energy resources
The Lake Albert Development has not only opened up opportunities for energy and economic growth but has showcased the potential for large-scale hydrocarbon developments in the country, and global players are already taking note. With the aim of further expanding the upstream market, the Ministry of Energy and Mineral Development is set to launch its third licensing round in 2023 to unlock additional discoveries.
The Invest in Uganda Energies spotlight at AEW 2023 will promote the country’s upstream opportunities, triggering newfound investment in the burgeoning industry.
On the midstream and downstream fronts, in addition to the EACOP, the country is inviting foreign investors to fund a series of infrastructure projects, both in-country and across the region. Representing a relatively new market, opportunities for players across the refining, transportation, service provision and associated industries are growing, and the AEW country spotlight will connect investors to opportunities.
In the renewables and power sectors, the government of Uganda is committed to accelerating the diversification of the energy mix by maximizing biomass, nuclear power, solar energy and green hydrogen production. Various projects are currently underway including the government-led Uganda Rural Electricity Access Project; an HDF Energy-led green hydrogen facility; and the Serengeti Energy-led Nyamwamba II hydroelectric project.
Additionally, French energy major TotalEnergies has committed to building up to 120 MW of solar capacity in the county. However, the market remains largely untapped, and the Uganda country spotlight will showcase projects, and promote market potential while incentivizing new deals.
“The Chamber is proud to host key Ugandan decision makers alongside energy stakeholders and global investors during the Invest in Uganda Energies country spotlight at AEW 2023. We commend the efforts being undertaken by the Ugandan government to fast-track the development and monetization of both hydrocarbon and renewable energy resources and consider projects such as the EACOP to be crucial for the continent. During the country spotlight, further insight will be provided into Uganda’s energy opportunities and we look forward to a strong slate of deals that are expected to be signed,” said Ayuk.
Under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets’, AEW 2023’s Invest in Ugandan Energies spotlight will connect global players to East African energy opportunities.
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