Uganda is looking to tap into Equatorial Guinea’s experience of oil production, in order to build its own capacity before oil production starts.Speaking at the Joint Oil and Gas Convention and Regional Logistics Expo at the Kampala Serena Hotel, on Thursday, country’s President Teodoro Obiang Nguema Mbasogo, who wrapped up his visit to Uganda shorty after speaking at the conference, said they had agreed with President Museveni of Uganda on areas of corporations especially in the petroleum sector.
Equatorial Guinea which produces 300,000 barrels per day has been an oil producing country for the last 20 years.
“This visit has actually enabled us to identify a number of important areas for economic cooperation for the two countries, such as those areas where we have been able to sign accords like the petroleum and gas sectors,” President Obiang said.
The details of this partnership are still not yet known but the Uganda government is keen on picking lessons from countries that are involved in oil production.
“This visit has actually enabled us to identify a number of important areas for economic cooperation for the two countries, such as those areas where we have been able to sign accords like the petroleum and gas sectors,” President Obiang said.
The details of this partnership are still not yet known but the Uganda government is keen on picking lessons from countries that are involved in oil production.
During bilateral talks between heads of state of the two countries on Wednesday night, Uganda’s Energy Minister, Ms Irene Muloni signed an MoU for cooperation in oil and gas with Equatorial Guinea’s minister Obiang Lima.
Mr Nguema said as Uganda proceeded with production cycle, there were important issues the country needed to address in order to maximise benefits.
Mr Nguema said as Uganda proceeded with production cycle, there were important issues the country needed to address in order to maximise benefits.
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