Kampala, Uganda | JULIUS BUSINGE | Oil sector leaders are warming up to deliver new developments regarding oil and gas sector for Uganda next week.
This will be at the 4th annual Oil and Gas Convention scheduled for April 25-26 at Kampala Serena Hotel, where hundreds of stake holders are expected to take part.
The convention is a joint effort of the Uganda Chamber of Mines & Petroleum (UCMP) and the Ministry of Energy and Mineral Development through the Directorate of Petroleum.
Speaking to reporters at Serena Hotel today (April 18), the Secretary General of UCMP, Sam Thakkar said, the convention will bring Ugandans and sector players worldwide up to speed on what is going on.
“Trust me it is going to be a lively debate,” Thakkar, who was franked by other sector officials both in the private sector and government said.
Among the issues to discuss will be; oil and gas logistics, and standards; the role of young professionals in the sector; finance and risk management; corporate social responsibility and environmental related issues and local content. The other issues relate with the ongoing development projects in the upstream including oil refinery, oil pipeline, airport, roads and more.
Last year, Equatorial Guinea President Teodoro Obiang Nguema Mbasogo was in attendance and addressed the joint inaugural Regional Logistics EXPO 2017 and the 3rd Annual Oil & Gas Convention.
He warned that Uganda should be careful when negotiating oil and gas deals. He said that whereas oil is a good blessing to nations that discover it, there are times it becomes a curse to the countries.
“Oil can be linked to honey. Honey attracts many bees but some of those bees are the bad ones. Uganda needs to be vigilant to sieve the bad from the good,” Obiang warned.
President Obiang revealed that during his country’s quest for oil, a number of oil and gas companies visited Equatorial Guinea with hidden agendas to the extent that they were not willing to share their findings with his government.
“We were told that we had no oil. Oil or petroleum is a very conflicting product in many places and times,” he emphasized.
He reaffirmed his country’s commitment to supporting Uganda in its exploration of the oil and gas industry using the experience of Equatorial Guinea in hydrocarbons and gas.