Uganda needs to decide on their gas investments and to take action immediately and fasten the process.
This was discussed in the meeting of assessment of Uganda’s future on oil and gas potential.
The meeting was attended by high-ranking officials from the energy ministry, oil company executives, diplomats, and the media and university students.
It was clearly stated by the experts that the failure to take action now could push first oil date beyond 2021 the thing which could divert potential investor’s decisions to other parts of the continent.
Uganda’s promise in recent years is heavily linked with the discovery of oil and gas in 2006, which has subsequently seen an increase in foreign direct investment as many target a piece of the pie.
Actual oil production dates remain vague, with the Bank of Uganda recently expressing doubts about the country meeting the 2018 projection for First Oil.
This however has not discouraged continued investor interest in Uganda particularly in gas and oil projects.