Talks on oil logistics hub due in April

March 1, 2017 in Business, Companies, Hydrocarbons, Infrastructure, Trade & Industry, Transport by Editor

March 1-Rising expectations concerning the potential gains from Uganda’s Oil and Gas sector is providing a platform for more advisory services and brainstorming sessions as Ugandans await the first commercial barrel sale due in 2020.

Against this backdrop, Uganda Freight Forwarders Association (UFFA), together with the Uganda Chamber of Mines and Petroleum (UCMP), the Ministry of Works and Transport will host the inaugural Regional Logistics EXPO 2017. It is scheduled for April 25 – 27 at the Kampala Serena Hotel under the theme ‘Transforming Uganda into a Regional Logistics Hub’.

After several years of exploration by independent oil companies, the government announced in 2006, the presence of reserves totaling about 6.5 billion barrels. Experts have said 1.7 billion barrels is recoverable.

Dr. Elly Karuhanga, the UCMP Chairman said, “The general consensus is that in order to achieve First Oil by the year 2020, all stakeholders must co-ordinate and plan their roles to fast track developments towards priority projects like the crude export pipeline and other pipelines, the refinery and storage facilities plus all other relevant infrastructure.”

The first production license was awarded in 2013 to China National Offshore Oil Corporation (Uganda). Since then, falling prices on the international market dulled investment activity, but of recent there is a growing optimism prices will recover by the end of 2017.

Last year, another five licenses were issued by the government, heightening anticipation for the beginnings of a new spending round to build Uganda’s production infrastructure that may accumulate costs of between $8 billion and $10 billion.

Dr. Karuhanga said, “The need to develop industry specific skills to support these developments goes without saying. As such, it is imperative that the private sector identifies entry points along the value-chain within which they can offer their various services.”

The Chairperson of the forwarders association, Jennifer Mwijukye said, the event will offer a unique opportunity to share best practice in trade and policy, engagement with a wide range of stakeholders, and define roles and responsibilities in the development process to facilitate a competitive environment for the development of a logistics hub in Uganda. She is the CEO and founder of Unifreight Group.

She said, “The Regional Logistics EXPO 2017 will focus mainly on the development of a regional logistics hub in Uganda. It will therefore seek to discuss the avenues to achieving the long term infrastructural and high tech development initiative for facilitating trade and as a key national development strategy for increased competitiveness in the region. The event will highlight the role of key stakeholders in achieving the initiative while defining appropriate strategies to be employed to achieve the National Vision for Logistics and Transport.”

Highlights include a two day conference including motivational speeches and presentations from renowned global speakers and experts in the oil sector, government officials, development partners, industry players from within the region and globally, a transport, logistics and a suppliers’ exhibition. There will also be media engagements, networking events, Business-to-Business engagements among others.

Mwijukye said the event will offer a unique opportunity to share best practice in trade and policy, engagement with a wide range of stakeholders, and define roles and responsibilities in the development process to provide a competitive environment for creating a logistics hub in Uganda.