Ministry of Energy and Mineral Development

MEMD Media Statement on Oil and Gas

MEMD Media Statement on Oil and Gas

STATEMENT ON UGANDA’S OIL AND GAS SECTOR: KEY
MILESTONES FOR 2022 AND OUTLOOK FOR 2023

BY HON. DR. RUTH NANKABIRWA SSENTAMU
MINISTER FOR ENERGY AND MINERAL DEVELOPMENT

INTRODUCTION

  1. Colleagues, members of the media fraternity, ladies and gentlemen, I welcome
    you to this joint media briefing, which will focus on the milestones achieved in
    Uganda’s Oil and Gas sector during 2022 and the outlook for 2023.
  2.  You will agree that the year 2022 is of great significance for Uganda’s oil
    journey. As the world was recovering from the COVID-19 pandemic, Uganda
    made significant strides toward achieving commercial production, commonly
    referred to as First Oil.
  3. Critical among these was the announcement of the Final Investment Decision
    (FID) for Uganda’s Oil and Gas projects on February 1, 2022, which unlocked the
    inflow of US$15 billion into the country’s economy. This milestone is
    unprecedented and undoubtedly the largest project in terms of value in the
    country and the East African region. It has opened the way to activity and
    investment in the country.
  4. My Ministry, together with the Petroleum Authority of Uganda (PAU) and the
    Uganda National Oil Company (UNOC), are, therefore, glad to provide periodic
    updates on the status of petroleum activities in the country through this media

For more details, please download the pdf below
MEMD Media Statement on Oil and Gas-2023

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