President Yoweri Museveni says finalization of negotiations leading to the final investment decision for Uganda’s oil and Gas is expected by the end this year.
President Museveni says progress has been made in taking forward the key projects leading to the first by putting necessary infrastructure to produce and commercialize the oil and gas resources discovered in the country.
He said this while officiating the oil and gas convention 2020 earlier today under the theme “Regional Preparedness for Oil and Gas Development.”
“These projects are technically mature, the infrastructure and investment required for the their development have been agreed upon and the necessary processes to ensure that the environmental and social coexistence frameworks are being put in place.
The key outstanding elements are to relate to the commercial frameworks. We recently signed the host government agreement between the oil companies and the government of Uganda for the East African Crude oil Pipeline project after a long period of negotiation.
I thereafter led a team to Tanzania where we agreed to track all pending agreements.”