Uganda eyes 60,000 new jobs with oil deals
KAMPALA, April 13, 2021 – Uganda expects to add 60,000 direct and indirect jobs as a result of the tripartite agreement to develop its Lake Albert oil resources, the country’s energy minister said on Tuesday.
Minister of Energy and Mineral Development Dr. Mary Goretti Kitutu made the statement to a press conference two days after the signing of the landmark pact.
For the full picture on Uganda’s energy industry, read our interview with Dr. Goretti Kitutu.
On Sunday, representatives of Uganda, Tanzania and French energy giant Total signed a historic agreement on the development of Uganda’s Lake Albert oil reserves and their evacuation via the East African Oil Pipeline (EACOP).
The projects are expected to bring in USD 15 billion-20 billion in investments, Proscovia Nabbanja, CEO of Uganda National Oil Company (UNOC), told The Energy Year.
Sunday’s deal comes 15 years after oil was discovered in Uganda’s Albertine Rift Basin. The country is estimated to hold 1.4 billion barrels of recoverable resources, and its government has been putting comprehensive measures in place to ensure the efficient and value-added development of these resources.
Total, UNOC and CNOOC are the project partners. They are expected to award major EPC contracts following the deal, driving a major boost in employment in the East African nation.
“The signing of the agreements and the launch of the oil and gas projects, more so during the ongoing Covid-19 pandemic, are an assurance of commitment from our investments partners towards the sustainable development of Uganda’s petroleum resources,” Dr. Goretti Kitutu said at the conference.
Photo courtesy of UNOC.