The Tanzania Private Sector Foundation (TPSF), in collaboration with Private Sector Foundation Uganda (PSFU), have asked the private sector to begin working together as the best means to harvest from the opportunities that the oil and gas industry has brought.

The two institutions have moved to organise the first joint oil and gas conference scheduled for Thursday the 25th November 2021 in Dar es Salaam.

Dubbed the Tanzania – Uganda Oil and Gas Symposium (TUOG) the event will assemble stakeholders from Tanzania and Uganda to strategize on the involvement of the private sector of the two countries in the execution of the East African Crude Oil Pipeline (EACOP) project.

Officials and members of the private sector from Uganda and Tanzania during the launch of the upcoming oil and gas meeting in Tanzania. This was at Serena Hotel, Dar es Salaam. (Courtesy photo)

It is expected that the 1,443km crude oil export pipeline that will transport Uganda’s crude oil from Kabaale in Hoima district to Tanga in Tanzania will bring massive business opportunities to the private sector including; transportation, securities, food and beverage, hotel accommodation and catering.

Other opportunities are; human resource management, office supplies, civil works, finance, the supply of construction materials and many more services.

The project has ring-fenced contracts for locals which include; fuel supply, land surveying, clearing and forwarding, crane hire, locally available construction materials, civil works, environmental studies and impact assessment and ICT services.

TPSF and PSFU found it important to organize the Tanzania – Uganda Oil and Gas Symposium that will provide a platform for the private sector of the two countries to network.

The two institutions want to create an understanding of the industry opportunities, challenges, discuss areas of cooperation.

They hope to showcase their capacities through experience sharing, interacting with public sector actors on legal and policy matters that govern the industry in the two countries.

TUOG is organized with support from the Ministry of Foreign Affairs through its Uganda High Commission in Tanzania and the Ministry of Energy in Tanzania.

The theme of the symposium is “Enhancing Private Sector Participation in the Oil & Gas Sector.”

The objectives of the Tanzania Uganda symposium are; provide a platform for networking, help each other get stronger, learn, share experiences and opportunities with the oil and gas industry projects.

Officials and members of the private sector from Uganda and Tanzania during the launch of the upcoming oil and gas meeting in Tanzania. This was at Serena Hotel, Dar es Salaam. (Courtesy photo)

They seek to identify key strategies that can enable partnerships and joint ventures between Ugandan and Tanzania private sector actors.

The other goals are; facilitate public-private sector dialogue on issues that affect the implementation of local content in the oil and gas industry projects, explore other avenues of teamwork for a sustainable private sector development of the two countries as the early bird catches the worm.

This private sector-led meeting will be a hybrid event. It is expected to gather in person over 200 high-level private sector officials from Tanzania and Uganda, and over 2000 participants will follow the discussion virtually.

The expected outcomes of the symposium are; increased private sector awareness of the legal, policy and regulatory frameworks for oil and gas in Uganda and Tanzania.

The two countries seek to create synergies and areas of cooperation between Uganda and Tanzania private sector companies as tackling opportunities alone might not be easy.

They hope to define ways and strategies of leveraging the prospects presented by the oil and gas industry for the benefit of the people of Tanzania and Uganda

Tanzania and Uganda enjoy a long-standing historical, diplomatic and economic relationship for several decades that has been strengthened by the developments in the oil and gas industry principally the EACOP project.

It is estimated that during the construction phase of EACOP, Uganda and Tanzania will see an increase of over 60% in Foreign Direct Investment.

The investment in the oil and gas projects shall total up to $20b (sh71trillion), with the EACOP investment alone, at over $3.5b (sh14trillion).

This symposium will be the first one of the many avenues of collaboration that Tanzania and Uganda will enjoy going forward.