East Africa Energy Services Trade Mission - Massive New Investment Opportunities

 
From left to right: Dr. Thackwray Driver (head of the Energy Chamber Trade Mission), His Excellency Patrick Edwards, High Commissioner of the Republic of Trinidad and Tobago in Uganda, The Honourable Peter Lokeris, Minister of State in the Ministry of Energy and Resource Development and Professor Maggie Kigozi, Executive Director of the Ugandan Investment Authority.

The Energy Chamber of Trinidad & Tobago learnt today of the major opportunities for business in the energy sector of Uganda. In a forum organised by the Uganda Investment Authority and the Trinidad & Tobago High Commission in Uganda, members of the ten person Energy Services Trade Mission heard details of the massive new investments into the oil and gas sector, spearheaded by Tullow Oil. Tullow and their partners are set to invest some US$10 billion into the newly found oil and gas reservoirs in the Lake Albert region of Uganda, including a major new state of the art refinery. In a landlocked country with no tradition in the oil and gas industry, the development of these resources is challenging, but offers major opportunities for new business ventures. Private-sector companies in Uganda are keen to partner with the companies from Trinidad and Tobago who have made the decision to work in East Africa.

The Honourable Peter Lokeris, Minister of State in the Ministry of Energy and Resource Development welcomed the delegation to Uganda and explained that he had visited us in April 2009, his first overseas trip as Minister, in order to learn from Trinidad & Tobago's success in the energy industry. He reported that he was impressed by what we had achieved, the scale of our industry and most of all the friendliness of the Trinbagonian people. The issue of training, capacity building and local content is on the front burner in Uganda and the private-sector here are clearly looking to the Energy Chamber of Trinidad & Tobago to help them address these difficult issues.

Our first full working day on the Trade Mission has been very fruitful and the Energy Chamber anticipates that this is another success story in the making. Later this week the delegates will take part in the Private-sector Forum of the 15th African Union Conference, with 54 heads of state and their delegations scheduled to visit Uganda. From there it is on to Tanzania, Rwanda and Kenya: with a hectic schedule and plenty of opportunities.