COUNTRY FOCUS : UGANDA
With Uganda announcing visibility into its oil production and future exports , the question is whether the dynamics of this industry can help elevate the state of its data centres , cloud hosting , telecommunications , cyber security and fibre connectivity to the level of its East African and Sub Saharan neighbouring countries .
Can oil drive investment into digital economy ?
Panoramic view of Kampala in Uganda
Uganda is now able to offer investors the predictability they need above ground . With an estimated 6.5 billion barrels of oil in place and 1.4 billion barrels deemed to be technically recoverable , the Republic of Uganda offers undeniable development potential for the international oil and gas sector .
One of the biggest challenges African oil and gas projects face today is the lack of financing . In the current energy transition climate , global capital expenditure has become increasingly more competitive , with pressures mounting to reduce funding for fossil fuel projects . However , significant opportunities remain , with Uganda representing one of the final frontiers for oil and gas exploration worldwide .
Uganda ’ s extensive petroleum resources and encouraging progress in developing them make it an exciting case study for investors , prospective partners and government leaders from other African energy frontiers .
The crown jewel of Uganda ’ s oil industry is the Kingfisher field , part of an ambitious $ 10 billion project to develop oil reserves under Lake Albert in the west of the country . Kingfisher , and the neighbouring Tilenga field , are part of a project that also involves constructing a pipeline to transport crude oil to international markets via Tanzania ’ s Tanga Indian Ocean port .
In collaboration with project partners , Uganda National Oil Company is spearheading the development of
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