East Africa’s booming oil and gas sector, with multi-billion dollar projects getting under way this year, is set to create a wealth of opportunities for international manufacturers, traders, contractors, consultants and service providers in the sector.
This is according to African research and consulting company Africa House, which sees the East African oil and gas fields as a key African growth point.
Africa House, together with Ugandan and Tanzanian partners, will host a virtual conference and B2B trade meetings on March 24 and 25 to outline the planned oil and gas projects and the business opportunities they present.
Liz Whitehouse, managing director of Africa House, says East Africa’s oil and gas sector presents some of the continent’s most exciting business opportunities this year. “Major oil and gas projects in Uganda and Tanzania valued at over US$15 billion are expected to reach implementation stage this year, so now is the time for companies to set up partnerships to benefit from these projects. Opportunities include developing the licence areas operated by Total, as well as the East African Crude Oil Pipeline project (EACOP), and a new oil export terminal just north of Tanga port in Tanzania,” she says.
After a slow start to oil resource exploitation in Uganda, Total’s entry into these fields has energised development, with Uganda’s Final Investment Decision (FID) on around US$10 billion in oil and gas projects this quarter to unlock the development of six oil fields, buried pipelines, a tank farm, a water abstraction pipeline, pumping stations, a refinery, an international airport and industrial park, as well as other supporting infrastructure.
To elaborate on the opportunities for pan-African and international business partners in these expansions, the Africa House conference will feature talks and panel discussions on the status of oil and gas projects in the region, the status and challenges facing the Lake Albert and the East African Crude Oil Pipeline Projects, procurement arrangements for key projects, the status and future role of local content legislation in Tanzania and Uganda, and key considerations in establishing commercial partnerships with Ugandan and Tanzanian companies. Speakers will include oil and gas industry stakeholders, and experts in company law, tax legislation, labour law, human resources and training, immigration law, work permit legislation, visa regulations, trade finance, banking and commercial industrial property.
The event will also feature a focused business to business event in which participants will have the opportunity to engage with various parties involved in the projects to assess the opportunities they offer. Participants will be able to engage in pre-arranged virtual trade meetings with potential local partners, including established Ugandan and Tanzanian business owners, contractors, industrialists, importers, distributors, agents, and business service providers.