Wednesday , June 12 2024

Uganda’s oil prospects shine

New entrant into the oil and gas market, Uganda plans to build the longest electrically heated crude oil pipeline.

The country intends to build an oil pipeline stretching from Uganda oil fields to the Tanzanian port of Tanga.

Estimated to be one of the most expensive projects consisting of upstream, midstream and downstream infrastructure, the country is looking to capitalize on lessons learned in other developing oil and gas markets, as well as from established producers.

Already Siemens North American Oil and Gas Division have indicated that the project needs an integrated solution.

“With an estimated 6.5 billion barrels of oil and close to 500 billion cubic feet of gas, Uganda is a promising site for exploration.

Siemens has a proven track record of delivering fit-for-purpose technical solutions on a large scale in remote locations,” said Patrice Laporte, Vice President of Siemens North American Oil and Gas Division.

“This expertise and knowledge can play a decisive role in ensuring the performance and on-time delivery of a key infrastructure project of this magnitude,” added Laporte.

Larporte said the anticipated positive economic impact in Uganda from the oil and gas sector is indeed promising but the full effect will only benefit the country and its citizens through judicious planning and implementation of the proposed pipeline.

Siemens is considered one of the technology leaders in the industry because of its full spectrum solutions, products and services.

For many years Siemens have been supplying industrial automation, power generation and power distribution strengths and experience to the oil and gas industry.

Larpote said Siemens’ expertise and technology is not only of benefit at the inception of a project but along the full value chain and throughout the entire lifecycle of an investment.

“Our innovative technical solutions ensure the sustainability of projects with a key focus on reliability, performance and economic efficiency.”

The International Monetary Fund recently stated that the oil reserves in Uganda may account for around four percent of the country’s economy annually in the next few years if managed well.

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