President Yoweri Museveni has arrived in Tanzania for the Uganda Tanzania Oil and Gas Symposium.
The symposium is aimed at strengthening private sector participation in the oil and gas sector ahead of the anticipated oil revenue.
Ms. Irene Batebe, Permanent Secretary, Ministry of Energy while giving remarks at the opening of the symposium said the target is to have oil flowing by 2025.
“Contracting is going on, we target to have oil out in 2025. On EACOP, legislation is concluded and negotiations for debt financing is ongoing”.
“Route and design of the EACOP Project were approved. Commerciality of Petroleum Resources in Uganda confirmed- 1.4 billion barrels of recoverable reserves. Commercial & significant Gas Resources confirmed in Tanzania.”