Africa-Press – Tanzania. The private sector of Tanzania and Uganda will convene a conference to strategise on their involvement and how to benefit in the opportunities emerging in execution of the East African Crude Oil pipeline (EACOP).
The conference dubbed ‘Tanzania – Uganda Oil and Gas symposium is planned to take place in the last Thursday of this month to be co-organised by the Tanzania Private Sector Foundation (TPSF) and Private Sector Foundation of Uganda (PSFU) will take place in Dar es salaam.
“EACOP execution is budgeted at 3.5 billion US dollars but the total money circulation which will be added in oil and gas investment and related activities to 20 billion US dollar.
“This is a greater opportunity which requires the private sectors from the two countries to discuss and plan together on how to tap this potentiality,” said TPSF Executive Director Mr Francis Nanai
Nanai said at a press conference yesterday that around 200 delegates will attend the conference physically, while over 2,000 will participate virtually.
The construction of the 1,443 km long pipeline is exporting crude oil from Kabaale in Uganda to the Sea shores of Tanga region and will bring a lot of opportunities.
He further said the theme of the symposium will be; “enhancing Private sector participation in the oil and gas sector.”
PSFU Chairman Dr Elly Karuhanga highlighted on the need for cooperation of the private sectors from the two countries to benefit from the oil and gas sector.
“The construction of EACOP is like an umbilical code feeding the private sector of the two countries. It is a high time that we discussed and ensured that oil and gas benefits the people of the two countries,” Dr Karuhanga said.
Energy Water Utilities regulatory Authority (EWURA), Director General, Eng Godfrey Chibulunje assured the private sector that local content law, which grants opportunity for the locals will be preserved in the execution of the project.
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