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Trinidad & Tobago interested in Uganda's oil sector

By Vision Reporter

Added 4th August 2013 10:30 AM

Uganda stands to benefit from Trinidad and Tobago’s vast experience in the development and management of the oil and gas industry.

Trinidad & Tobago interested in Uganda's oil sector

Uganda stands to benefit from Trinidad and Tobago’s vast experience in the development and management of the oil and gas industry.

By Ibrahim Kasita in Port of Spain, Trinidad and Tobago

Uganda stands to benefit from Trinidad and Tobago’s vast experience in the development and management of the oil and gas industry, Eng Irene Muloni, the minister of energy and mineral development, has assessed.

This, she said, calls for the deepening and broadening of the bilateral relations between the two countries.

“I am extremely happy about Trinidad and Tobago’s success in in oil and gas sector which has improved the country’s economy as well as people’s standard and quality of living,” Muloni noted.

The minister said Uganda is keen to learn the best practices of managing its infant but nascent oil and gas industry and avoid the pitfall so that the resources are used transform Uganda to middle-income and developed nation in the medium and long-term

Muloni was speaking in Trinidad and Tobago where she led a 10-man Ugandan delegation on a week-long study tour on the invitation of the government of the Republic of Trinidad and Tobago.

The delegation comprised of the Omukama of Bunyoro-Kitara Kingdom, His Majesty Solomon Gafabusa Iguru accompanied by his administration and technical team from the petroleum exploration and production department of the ministry of energy and mineral development.

Trinidad and Tobago is the oldest oil producing country in the World, having discovered oil in 1857 and the first oil well was sunk in 1866.

The Atlantic Ocean two Islands state has been selling oil commercially on the international market since 1908. Trinidad and Tobago is the largest exporter of Methanol (32%) and Ammonia (27%) from a single site anywhere in the World.

The country has four trains of Natural Gas and is the sixth largest exporter of Liquified Natural Gas (LNG).

And over the years, Trinidad and Tobago has developed a formidable reputation and considerable expertise in the oil and gas sector.

Muloni, said that Uganda has confirmed 3.5 billion of barrels of oil in reserves in just only 40% of the hydrocarbon potential Lake Albertine basin. She also said that there substantial amount of gas confirmed though studies are on-going to establish the actual quantity.

“We want the people of Uganda get involved in the oil sector and therefore building their capacity is our priority so that they can get jobs. We are promoting entrepreneurship skills so that Ugandans take the opportunity created by the oil and gas sector and we have encouraged them to form joint ventures,” Muloni said.

“We are going to use the oil revenues to build power stations to provide electricity for our people, railway system to improve our transport, invest in agriculture so that we add value to our produce and earn more income.”

She, however, pointed out that “we need to get the skills to build our manpower and this is why we want to strengthen our partnership with Trinidad and Tobago to offer us such support.”

Kelvin Ramnerine, the Trinidad and Tobago minister of energy affairs, reiterated commitment to support Uganda’s quest for capacity building, investments and trade.

“We are strongly committed in further assisting Uganda in the development of its energy sector. We are ready to invest in Uganda, provide technical assistance and building technical skills for Ugandans,” he said.

“We have talked for long and this is the time to progress and put the talks in action. We shall support Ugandan whenever we are requested to do so.”

 

 

Trinidad & Tobago interested in Uganda’s oil sector

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