Private sector stakeholders from both Uganda and Tanzania are set to strategize on their involvement in the execution of the East African Crude Oil Pipeline (EACOP) project.
The stakeholders under their umbrella groups, Private Sector Foundation Uganda (PSFU) and Tanzania Private Sector Foundation (TPSF) will meet in Dar es Salaam on November 25 in what’s dubbed as the first joint Oil and Gas Conference to discuss the $3.5 billion project.
It is expected that the 1,443km crude oil export pipeline that will transport Uganda’s crude oil from Kabaale to Tanga in Tanzania will bring massive opportunities for the private sector including; transportation, securities, food and beverage, hotel accommodation and catering, Human Resource Management, office supplies, Civil works, Finance, the supply of construction materials and many more services. The project has also reserved contracts for locals including fuel supply, land surveying, clearing and forwarding, crane hire, locally available construction materials, civil works, environmental studies and impact assessment and ICT services.
“In order to ensure that locals are well prepared to tap the benefits availed by the strategic project, TPSF and PSFU found it important to organize the Tanzania – Uganda Oil and Gas Symposium that will provide a platform for the private sector of the two countries to network, understand the industry opportunities and challenges, discuss areas of cooperation and showcase their capacities through experience –sharing, and interact with public sector actors on legal and policy matters that govern the industry, in both Uganda and Tanzania,” said Mr Francis Nanai, the executive director TPSF who are the organisers of the symposium, which is supported by Uganda’s Ministry of Foreign Affairs through its Uganda High Commission in Tanzania and Tanzania’s ministry of Energy.
The organisers say the symposium organized under the theme “Enhancing Private Sector Participation in the Oil and Gas Sector” will seek to provide a platform for networking, learning and sharing experiences and opportunities with the oil & gas industry projects, identify key strategies that can enable partnerships and joint ventures between Ugandan and Tanzania private sector actors, facilitate public-private sector dialogue on issues that affect implementation of local content in the oil and gas industry projects as well as explore other avenues of collaboration for a sustainable Private Sector development of the two countries.
“This private sector led meeting will be a hybrid event which is expected to gather in person over 200 high-level private sector officials from Tanzania and Uganda and more than 2000 participants will follow the discussion virtually.”