- Kenya National Oil Corporation CEO Gideon Morintat will lead talks on the untapped potential of East African energy market in October forum.
- With 1.4 billion barrels of recoverable crude oil reserves and significant gas resources, Uganda ranks among Africa’s fastest growing energy markets.
- In the renewables and power sectors, Uganda is diversifying energy mix by maximizing biomass, nuclear, solar and green hydrogen production.
Kenya’s oil and gas sector may be modest today, but stakeholders are joining forces to harness East Africa’s (EA) energy potential as significant discoveries across countries raise the stakes for investors.
At the upcoming African Energy Week (AEW), which will go on between October 16-20 in Cape Town, Leparan Gideon Morintat, the CEO of the Kenya National Oil Corporation (NOC), will lead discussions on the untapped potential of the East African energy market.
Engaging with a diverse range of investors and project developers, Morintat aims to attract investment and drive the growth of this emerging industry. Morintant brings a wealth of experience in the energy sector, equipped with dynamic and strategic leadership skills to navigate complex markets and ensure successful project outcomes.
With a background encompassing oil and gas, energy, infrastructure project development, and ICT, Morintat possesses a comprehensive understanding of the industry’s diverse challenges and opportunities.
“This event presents a rare opportunity to engage in informative discussions, exchange valuable insights, and collaboratively contribute to the progressive growth of Africa’s energy sector,” said NJ Ayuk, the Executive Chairman of the AEC.
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Promising regional energy prospects
As the CEO of Kenya’s NOC, Morintat is responsible for managing the company and overseeing its activities. NOC, a fully integrated state corporation, plays a crucial role in Kenya’s petroleum supply chain.
Operating across the upstream, midstream, and downstream sectors, the NOC facilitates oil and gas exploration. It manages exploration data, operates a petroleum laboratory, and develops petroleum infrastructure (including a floating jetty and strategic petroleum reserves). NOC also maintains a growing retail network across the country. In addition, the NOC offers innovative products and services and operates a non-fuel business unit.
The distribution of oil blocks in Kenya reveals a promising opportunity for investment and development. While international oil companies hold 26 out of the country’s 63 blocks, the NOC possesses one block.
This leaves 35 blocks open for bidding, creating investment opportunities that NOC, under Morintat’s leadership, can capitalize on. A forthcoming licensing round will further stimulate foreign participation and investment in the sector.
Uganda’s massive crude oil deposits
Across the border, boasting approximately 1.4 billion barrels of recoverable crude oil reserves and significant gas resources, Uganda ranks among Africa’s fastest growing energy markets.
The country is emerging as an attractive investment destination for global energy companies and investors alike. Currently, Uganda aims to produce first oil in 2025, having achieved a final investment decision for the $10 billion Lake Albert Development in 2022. The investment is comprising the Kingfisher and Tilenga oilfields as well as the 1,443km-long East African Crude Oil Pipeline – alongside TotalEnergies and the China National Offshore Oil Corporation.
The development not only represents an important avenue for exporting Ugandan crude to international markets via the Port of Tanga in Tanzania but is set to provide a consistent supply of oil to a region in much-need of reliable energy.
The African Energy Week (AEW) 2023 will also host an Invest in Uganda Energies country spotlight.
Renewable energy prospects in EA
Beyond the petroleum sector, Kenya’s energy industry showcases notable renewable projects. For instance, the Lake Turkana Wind Farm, Africa’s largest wind power project, generates 310 MW of reliable and affordable energy, supplying electricity to approximately one million households.
The 35MW Menengai geothermal project not only enhances power generation but also enables government savings in foreign exchange. These projects align Kenya’s energy sector with global initiatives aimed at reducing carbon emissions.
While Kenya’s energy sector predominantly relies on renewable sources, NOC has an opportunity to collaborate with other oil corporations and forge regional partnerships to foster the growth of the oil sector.
By leveraging shared expertise and resources, NOC can focus on infrastructure development, explore innovative solutions, and drive sustainable industry expansion.
In doing so, they can contribute to the advancement of the oil sector across the continent while maintaining a commitment to prioritize renewable energy in the domestic energy mix.
In the renewables and power sectors, Uganda is diversifying her energy mix by maximizing biomass, nuclear, solar and green hydrogen production. Various projects are underway including the government-led Uganda Rural Electricity Access Project; an HDF Energy-led green hydrogen facility. Also ongoing is the Serengeti Energy-led Nyamwamba II hydroelectric project.
Uganda’s solar largely untapped
Additionally, French energy major TotalEnergies is set building up to 120MW of solar capacity in Uganda. However, the market remains largely untapped, and the Uganda country spotlight will showcase projects, promote market potential while incentivizing new deals.
“We commend the efforts by Ugandan government to fast-track the development and monetization of both hydrocarbon and renewable energy resources. During the country spotlight… we look forward to a strong slate of deals that are expected to be signed,” states NJ Ayuk, the Executive Chairman of the AEC.
Under the theme, The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets, AEW 2023’s Invest in Ugandan Energies spotlight will connect global players to East African energy opportunities.
AEW is the AEC’s annual event uniting African energy stakeholders with global investors to discuss the future of African energy.
