President Yoweri Museveni has announced that Uganda will begin drilling its own oil next year, marking a major milestone in the country’s long-awaited journey toward commercial oil production.
Museveni made the revelation during the 63rd Independence Day celebrations held at Kololo Ceremonial Grounds, noting that the oil sector will soon start generating tangible results after years of exploration and infrastructure development.
The celebrations were held under the theme: “63 Years of Independence: A Reason to Double Our Efforts in Sustaining a United and Progressive Nation”
“The oil will start flowing next year,” the President said.
He added, “Fortunately, Uganda is about to start flowing, and that will enable us to do more work at the same time. Even with the oil money, however, my strong proposal is that we concentrate on budgeting for roads, defence, education, electricity, health, water for drinking and irrigation, wealth creation, the Parish Development Model, science and innovation.”
Uganda’s oil production is expected to take place mainly in the Albertine Graben, where commercial oil reserves were discovered in 2006. The resource is estimated at 6.5 billion barrels of oil, of which about 1.4 billion barrels are recoverable.
The multi-billion-dollar project is being developed under the Tilenga Project operated by TotalEnergies EP Uganda, and the Kingfisher Project led by CNOOC Uganda Limited. The Uganda National Oil Company (UNOC) represents the government’s interests, holding a 15% stake in each project.
The oil development is also being supported by major infrastructure projects such as the East African Crude Oil Pipeline (EACOP), a 1,443-kilometre pipeline jointly funded by Uganda, Tanzania, TotalEnergies, and CNOOC. The pipeline, once completed, will transport crude oil from Hoima in western Uganda to the Tanga Port in Tanzania for export.
Museveni, while reflecting on the country’s historical struggle to find petroleum, took a swipe at the colonial government’s failed exploration efforts.
“The British were in Uganda for 68 years, and between 1920 and 1956 they tried to find petroleum but failed,” he said.
He added, “They had noticed spills on the surface and assumed the oil had been there but evaporated. When the NRM came to power, we successfully discovered Uganda’s petroleum.”
Speaking about Uganda’s future economy, Museveni said that he is pleased to inform the nation that by June 2026, Uganda’s economy is projected to reach $66.9 billion in size, based on the foreign exchange method. Furthermore, the forecast for the following year anticipates a 7% economic growth.
