Trinidad and Tobago to support Uganda's oil sector
Aug 07, 2013
Uganda stands to benefit from Trinidad and Tobago’s vast experience in the development and management of the oil and gas industry, energy minister Eng. Irene Muloni has said.
By Ibrahim Kasita
Uganda stands to benefit from Trinidad and Tobago’s vast experience in the development and management of the oil and gas industry, energy minister Eng. Irene Muloni has said.
But this calls for deepening and broadening of the bilateral relations between the two countries.
“I am extremely happy about Trinidad and Tobago’s success in the 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 the infant oil and gas sector to transform the country into a middle-income state.
Muloni was speaking in Trinidad and Tobago where she led a 10-man delegation on a one-week study tour of the oil sector.
The delegation comprised of the Omukama of Bunyoro-Kitara Solomon Iguru and the administration and technical team from the petroleum exploration and production department of the energy ministry.
Trinidad and Tobago is the oldest oil producing country in the world, having discovered oil in 1857.
The Atlantic Ocean two-island 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).
Over the years, Trinidad and Tobago has developed a formidable reputation and considerable expertise in the oil and gas sector.
Muloni said Uganda’s confirmed 3.5 billion barrels of oil are only 40% of the hydrocarbon potential of the Lake Albertine basin.
She said there are also substantial amounts of gas confirmed, though studies are on-going to establish the actual quantity.
“We want the people of Uganda to get involved in the oil sector and, therefore, building their capacity is our priority. 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, the railway system to improve our transport, invest in agriculture so that we add value to our produce and earn more income.”
Muloni, however, pointed out that Uganda needs to get the skills to build manpower, which 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 the commitment to support Uganda’s quest for capacity building, investments and trade.
“We are strongly committed to assist Uganda in the development of its energy sector. We are ready to invest in Uganda, provide technical assistance and build technical skills for Ugandans,” he said.
“We have talked for long and this is the time to progress and put the talks into action. We shall support Uganda whenever we are requested to do so.”