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EACOP Project: Tanzania, Uganda Oil and Gas Symposium set for November 25th
Mr. Francis Nanai Executive Director, Tanzania Private Sector Foundation (R) H.E. Richard Kabonero Uganda’s High Commissioner to the United Republic of Tanzania (C) and Mr. Zachy Mbenna, Director of Membership Services (L).
The Tanzania Private Sector Foundation (TPSF) in collaboration with Private Sector Foundation Uganda (PSFU) are organizing the first joint Oil and Gas Conference scheduled for November, 25,2021 in Dar -ES- Salaam.
Dubbed the Tanzania – Uganda Oil and Gas Symposium (TUOG) the event will assemble stakeholders from Tanzania and Uganda to strategize on the involvement of the private sector of the two countries in the execution of the $ 3.5 billion East African Crude Oil Pipeline (EACOP) project.
It is expected that the 1,443km crude oil export pipeline that will transport Uganda’s crude oil from Kabaale to Tanga in Tanzania will bring massive opportunities for the Private Sector including; transportation, securities, food and beverage, hotel accommodation and catering, Human Resource Management, office supplies, Civil works, Finance, the supply of construction materials and many more services.
The project has also reserved contracts for locals including fuel supply, land surveying, clearing and forwarding, crane hire, locally available construction materials, civil works, environmental studies and impact assessment and ICT services.
Francis Nanai the Executive Director PSFT, revealed that the conference will help to ensure that locals are well prepared to tap the benefits availed by the strategic project.
“TPSF and PSFU found it important to organize the Tanzania – Uganda Oil and Gas Symposium that will provide a platform for the private sector of the two countries to network, understand the industry opportunities and challenges, discuss areas of cooperation and showcase their capacities through experience –sharing, and interact with public sector actors on legal and policy matters that govern the industry, in both Uganda and Tanzania,” Nanai noted.
The conference organized with support from the Ministry of Foreign Affairs through its Uganda High Commission in Tanzania and the Ministry of Energy in Tanzania will be held under The theme, “Enhancing Private Sector Participation in the Oil & Gas Sector.”
Nanai says that the symposium will also be used to provide a platform for networking, learning and sharing experiences and opportunities with the oil & gas industry projects
“It will also help to identify key strategies that can enable partnerships and joint ventures between Ugandan and Tanzania private sector actors, facilitate public-private sector dialogue on issues that affect implementation of local content in the oil &gas industry projects,” he said.
Nanai further revealed that the symposium will be used to Explore other avenues of collaboration for a sustainable Private Sector development of the two countries.
The meeting will be a hybrid event which is expected to gather in person over 200 high-level private sector officials from Tanzania and Uganda and more than 2000 participants will follow the discussion virtually.
Both parties are optimistic that the symposium will help increase private sector awareness of the legal, policy and regulatory frameworks for oil & gas in Uganda and Tanzania.
Nanai notes that the meeting will also help in the Creation of synergies and areas of cooperation between Uganda and Tanzania private sector companies, create strategies of leveraging the opportunities presented by oil and gas industry for the benefit of the people of Tanzania and Uganda.
It is estimated that during the construction phase of EACOP, Uganda and Tanzania will see an increase of over 60% in Foreign Direct Investment, and that the investment in the oil and gas projects shall total up to USD 20 billion, with the EACOP investment alone, at over USD 3.5 billion.
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