Published on 22 September, 2022

UNOC CEO to Drive Investment in Ugandan Oil and Gas Sector at AEW 2022 in Cape Town

Proscovia Nabbanja, the CEO of the Uganda National Oil Company, will be coming to African Energy Week 2022 to discuss the country’s frontier market potential as well as the major developments currently underway in Uganda.

Proscovia Nabbanja, CEO of the Uganda National Oil Company (UNOC), has joined a slate of high-level speakers all coming to Africa’s premier event for the oil and gas sector, African Energy Week (AEW) – taking place from October 18-21, 2022, in Cape Town. Representing one of Africa’s emerging hydrocarbon markets, Nabbanja will be participating in a number of panel discussions and networking events, making a strong play for Ugandan-directed oil and gas investment in 2022 and beyond.

Uganda’s emerging hydrocarbons sector is set to transform the East African energy landscape, bringing critical new supplies online and improving energy security in a post-COVID-19, energy transition era. As such, AEW 2022 represents the best platform for the country to sign deals and secure new investment partnerships which will be instrumental in unlocking the true potential of the country’s oil and gas market.

As Uganda’s national oil company (NOC), the UNOC is tasked with the commercial interests in the petroleum sector, ensuring that the development of the country’s lucrative energy resources translates into tangible opportunities for the population. Under the leadership of Nabbanja, UNOC has emerged as a driving force of the energy sector, not only managing the state’s participation in production licenses but driving new exploration ventures in the hopes of creating a competitive oil and gas economy in Uganda.

For Uganda, the country’s potential oil and gas resources will be critical, both for the country and for the region. Following the discovery of sizable oil and gas resources – estimated at over 6.5 billion barrels of oil and 0.5 trillion cubic feet of gas – a number of large-scale developments have taken off, all driven by the UNOC and its partners. The most notable of these developments include the Lake Albert Development – a multi-faceted development project comprising the Tilenga and Kingfisher upstream oil projects in Uganda and the construction of the 1,433 km East African Crude Oil Pipeline (EACOP) linking Uganda’s oilfields to Tanzania’s port. In February 2022, project partners announced that a final investment decision had been secured for the development, with the Tilenga, Kingfisher and EACOP expected to cost approximately $4 billion, $1.5 billion and between $3.5 and $5 billion, respectively.

With this project set to bring new opportunities for both Uganda and the East African region, ensuring the rapid development of both the upstream and pipeline facilities is key. In this regard, AEW 2022 will serve to further this objective, with the event providing the best platform for UNOC to drive discussions around the impact and role the development will have on Africa’s energy future.

“The chamber has been firm on its support for the Lake Albert Development and the EACOP. Currently, South Sudan is the only oil producing nation in East Africa, a trend which is expected to change as soon as this development comes online. At a time when Africa needs to scale up exploration and production with the aim of improving energy security and independence, projects such as this will be key and should not be delayed any longer,” states NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), adding that, “We are proud to host Nabbanja at AEW 2022 and look forward to the discussions and insights UNOC will provide.”

AEW 2022 is the AEC’s annual conference, exhibition and networking event. AEW 2022 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. Key organizations such as the African Petroleum Producers Organization, as well as African heavyweights including Equatorial Guinea and Nigeria, have partnered with AEW, strengthening the role the event will play in Africa’s energy future.

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