As Uganda moves to into the oil production stage, opportunities in the oil and gas sector investors can tap into is one of the hot topics.
Agriculture, hospitality and tourism are among the sectors that have been tipped to tap into the opportunities oil and gas sector presents.
Health sector is yet another area that is a key facilitator of the oil and gas sector; the unforeseen health hazards, health insurance and medical services among others are areas that needs to be invested in.
During the 1st health conference organized by Petroleum Authority of Uganda (PAU) held at Serena hotel in Kampala on 5th July 2019, the Minister of Health Dr Jane Ruth Aceng called upon all oil and gas players to identify heath opportunities existing in the oil and gas sector and take them on if they are to contribute to the economy.
“To enhance quality health service, there is need to strengthen primary and tertiary health care. Ministry of Health will partner with the private sector to develop a public-private partnership. Private sector should exploit the health opportunities in the oil and gas sector,” Aceng said.
She advised the health practitioners intending to participate in the oil and gas sector to link up with the ministry for guidance, adding that the ministry in advanced stages of having a revolving fund that will support private companies in accessing funding.
The Executive Director, Petroleum Authority of Uganda, Ernest Rubondo, said that in order to spread the benefits of oil and gas to a wider population, there is need to grow the participation of Ugandan enterprises through the provision of services and goods to oil and gas sector.
“Ugandan enterprises have continued to supply the country’s oil and gas sector at different levels and in different categories. Participation of Ugandan enterprises in these categories formed part of over $900 Million to the total expenditure on oil and gas activities in the country’s cumulative value retention in the country reported during the exploration phase,” he said.
Uganda’s Oil and Gas sector is broadening from exploration to new exploration and development of discovered oil and gas fields together with the refinery and pipeline infrastructure.
Uganda has 6 Billion barrels of Oil in the Albertine Graben, of which 1.4 Billion (25%) barrels are recoverable.
According to the publication by PAU, if more oil fields can be explored, more oil will discovered.
By Drake Nyamugabwa
