Energy Minister, Eng. Irene Muloni has revealed that government plans to massively start both oil and mineral exploitation.
She said in line with Uganda’s target of 2020, the Muloni put it clear that “. Four consortiums have been identified” two are going to be engaged (construction) and by the end of this year, the government will have a final investment decision made for the commencement of a refinery depot construction”
While addressing the media at Uganda Media Centre, the Minster said that the laboratory is under rehabilitation and more equipment is being procured adding that training has been carried out at the lowest cost. She added that in the long term, the government will be exploiting other sources of renewable energy such as geothermal potential (nuclear) and others are yet to be established.
Being environmentally sensitive, the refinery depot and pipeline are going to be developed as private businesses for the petroleum sector to progress.
Uganda granted eight additional licenses, five to Tullow Oil Company and three to Total. Tullow Oil Company was first granted its license in 2004 and started its preparations for the extraction of oil in 2006 especially at kisemena oil wall.
She clarified that the country is exporting gold from its Entebbe based gold company and this has brought in foreign exchange that will later be invested in other sectors of the economy.
In terms of electricity, she said the government has already invested in big hydro power projects which are currently under construction citing an example of Isimba, Karuma and Agago however, the government is fast tracking every sub-county to have electricity with free connection charges.
‘’As an East African region, Uganda wants to start trading in power, some of the transmission lines are being upgraded’’ the minister said.
She stressed that ‘’we must have cheap electricity that must support industries and industrial parks should have quality reliable electricity’’