BrandArena: Uganda underlines its intention to become a major oil and gas player

Thursday, 23 April 2020

Uganda underlines its intention to become a major oil and gas player

President Museveni, Tullow Oil and Total’s CEOs could not have chosen a better time to announce their agreement to resolve a long-standing capital gains tax dispute that had earlier prevented Tullow Oil from farming out its Lake Albert licenses to Total.

Oil junior Tullow Oil announced that it has agreed the sale of its entire stake in the Lake Albert Development Project in Uganda to oil major Total for US$575 million in cash plus post first oil contingent payments. This is welcomed news for both companies, Uganda, and the oil industry globally and in Africa in particular, all of which are going through a period of distress in the face of Covid -19 and crude oil prices crash.

This will automatically catapult Uganda to become East Africa’s biggest crude producer and provide much needed income for development and good paying jobs. Current estimates by the world bank expect Uganda to register growth rates of over 10% per annum resulting from oil production and associated activity. “This deal shows a lot of foresight to make an acquisition of this nature for such an amazing but reasonable price. The resolution of disputes that paved an opening for this deal should be commended. President Museveni, Tullow Oil and Total understood that being proactive and making concessions is good for Uganda, jobs, contracts for locals and regional growth,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber.

Most importantly, the deal sends the right signals to the market and investors, that despite the current challenges, Uganda is open and ready to do business. In line with the African Energy Chamber’s appeal to governments to show flexibility in appraising existing projects within the realities of the current business environment, the Government of Uganda with the direct involvement of H.E President Yoweri Kaguta Museveni was willing to cede ground and close the deal. This is good for Uganda and an example for other African countries facing the oil crisis to follow. It is likely to have positive effects far beyond the current crisis, with ever more explorers and oil companies likely to take another look at Ugandan acreage in an attempt to replicate Tullow Oil’s discovery successes.

The deal is also a huge boost for the construction of a pipeline that will transport the crude to international markets. “The proposed Uganda/Tanzania pipeline (East Africa Crude Oil Pipeline) in itself will not only lead to additional jobs being created, it will also render the entire country viable as a major oil frontier. It is a big win for the local and regional oil and gas industry and propels the East Africa region in playing a role in helping the energy sector rebound,” said Elizabeth Rogo, President of the Africa Energy Chamber for East Africa.

We are likely to see other oil companies like Oranto Petroleum drill additional exploratory wells in adjacent blocks, in an effort to take advantage of the pipeline infrastructure. The pipeline also increases the attractiveness of oil blocks located in the south of oil producing neighbouring South Sudan. Potential discoveries there are now likely to fetch a lower breakeven point, due to reduced piping costs via Uganda.

Whilst acknowledging the willingness of the Government of Uganda to compromise on this particular tax dispute, thus enabling this ground breaking transaction. The African Energy Chamber continues to advocate for additional special measures that will facilitate a Final Investment Decision by Total and its partners, and the deployment of capital to other drilling and geophysical projects in Uganda in the current business climate. We urge the government to continue working with the industry to improve the business climate for more oil and gas investments.


  1. Are you interested in any kinds of hacking services?
    Feel free to contact TECHNECHHACKS.

    For years now we’ve helped so many organizations and companies in hacking services.
    TECHNECHHACKS is a team of certified hackers that has their own specialty and they are five star rated hackers.

    We give out jobs to hackers (gurus only) to those willing to work, with or without a degree, to speed up the availability of time given to jobs!!

    Thus an online binary decoding exam will be set for those who needs employment under the teams establishment.

    we deal with the total functioning of sites like,

    + SOCIAL MEDIA (Facebook, Twitter, Instagram, Snapchat, google hangout etc.)





    + IOS/OS








    Thus bewere of scammers because most persons are been scammed and they ended up getting all solutions to their cyber bullies and attacks by US.

    I am Jason williams one of the leading hack agent.


    And our WORK SUCCESS IS 100%!!!

    I’m always available for you when you need help.

    Contact or write us on:


    Jason. W

    2020©️All Right Reserved

  2. This is the most wonderful thing i have ever experienced in my life, I never thought I will smile again, My husband left me with two kids for one year, All effort to bring him back failed and i was desperate to bring him back home I thought I'm not going to see him again not I read some testimonies about a love spell caster Called Dr PADMAN on how he has helped lots of people in bringing back their ex lovers within 48hours and I contacted him and he assured me that within 48 hours my husband will come back to me, i feel happy already when i heard that from him, In less than 48 hours my husband called me and informed me that he's coming home started begging for forgiveness saying it is the devils work, so I'm still surprise till now about this miracle, because it just too real to be real I know so many ladies are out there with the same problem of mine but i tell you today that there is a solution for it.for anyone who need his help Contact Dr PADMAN today via, Email address; Website: or Whatsapp him on +19492293867