DAR-ES-SALAAM: Uganda and Tanzania have on Thursday, November 4, 2021, discussed the involvement of the private sector in the execution of the East African Crude Oil Pipeline (EACOP) project. The discussion was held during the Tanzania-Uganda oil and gas symposium media launch held at Serena Hotel in Dar-es-salaam, Tanzania. The launch was virtual for stakeholders in Uganda and physical for Tanzania counterparts.
The discussions held from 9:00am to 11:30am majorly highlighted the need to involve the private sector more in the 3.5 billion dollar East African Crude Oil pipeline project. The launch organized by the Tanzania Private Sector Organization also acquainted the citizens from both countries with the benefits of involvement of the private sector in the EACOP project.
Uganda Chamber of Mines and Petroleum (UCMP) Chairman, Dr. Elly Karuhanga said the pipeline is the ‘umbilical cord’ that connects the two East African countries and feeds them. “Tanzania is going to allow Uganda’s crude export pipeline (EACOP) to go through their country and allow Uganda export its oil to the rest of the world,” he noted.
“It’s therefore important to involve the private sector in such discussions so as to meet the deadline and be able to produce our first oil by 2025 and gas to increase the countries’ Gross Domestic Product (GDP) and provide employment opportunities to our citizens,” Dr. Karuhanga added.
Dr. Karuhanga also noted that the governments and parliaments of Tanzania and Uganda have signed difficult agreements and worked hard and so, it’s time for the private sector to play it’s role and do it’s best to beat the set deadline. “We need to have proper preparations so as to have citizens from both countries to working together and achieve a common goal,” he stressed.
In succession to the event, the Private Sector Foundation Uganda will visit Dar-es-salaam on November 25 to hold another media launch of the Tanzania-Uganda Oil and Gas Symposium under the theme Enhancing Private Sector Participation in the Oil and Gas Sector.