The Uganda National Oil Company (UNOC) is set to showcase the country’s oil investment prospects at the African Energy Week (AEW) 2025, a premier energy investment event.
UNOC’s CEO, Proscovia Nabbanja, will highlight the opportunities available in Uganda’s oil and gas sector, which is rapidly transforming into a major player in East Africa.
It’s important to note that under Nabbanja’s leadership, UNOC has been instrumental in streamlining Uganda’s oil and gas sector. Among her achievements is the Kasuruban oil and gas block award, which marked a historic shift, positioning UNOC among global majors as an upstream operator, proving that Ugandans are not just hosts of resources but capable developers.
On fuel importation, Nabbanja contends that UNOC grew from handling 1 million litres in 2020 to over 2 billion litres by March 2025, boosting economic resilience, price stability, and national revenue. She has emphasised that infrastructure projects like EACOP, the Jinja Storage Terminal, and the Uganda Refinery are not just assets, but drivers of long-term wealth and energy security.
According to the UNOC, Uganda is estimated to have 1.4 billion barrels of recoverable oil reserves, making it an attractive destination for investors. The country’s oil and gas sector is driven by the Lake Albert Development Project, a flagship upstream venture led by Total Energies and CNOOC. Projections from UNOC indicate that the project is on track for first oil by the end of 2025, positioning Uganda as a competitive hydrocarbon exporter.
Several key projects and initiatives are driving Uganda’s oil and gas development. These include, but are not limited to:
Lake Albert Development Project: This project is Uganda’s flagship upstream venture, with Total Energies and CNOOC leading the development of the oil fields.
East African Crude Oil Pipeline (EACOP): This 1,443-km heated pipeline will transport Ugandan crude from Hoima to the Port of Tanga in Tanzania, enabling Uganda to export its oil to international markets. Despite recent financing delays and protests from environmental activists, however, EACOP remains a cornerstone project for regional integration and private sector participation in East Africa’s energy future.
Uganda is also laying the groundwork for downstream growth, including building domestic refining and storage capacity, which will reinforce energy security and create a multiplier effect across the economy.
Investment Opportunities
Uganda’s oil and gas sector offers wide-ranging investment opportunities, including:
Upstream field development
Investors can participate in the development of Uganda’s oil fields, including the Lake Albert Development Project.
Pipeline construction
The EACOP project offers opportunities for investment in pipeline construction and operation.
Local content initiatives
Investors can participate in local content initiatives, including logistics, infrastructure, services, and skills development.
The UNOC is playing a central role in unlocking the full potential of Uganda’s oil and gas sector. Under Nabbanja’s leadership, UNOC is driving strategic efforts to drive national participation, fast-track infrastructure rollout, and position Uganda as a competitive hydrocarbon exporter.
At AEW 2025, Nabbanja will spotlight investment opportunities across Uganda’s oil and gas value chain. Her insights will be vital for investors looking to tap into one of Africa’s most promising frontier markets.
As Ore’ Onagbesan, Program Director for AEW, noted, “Uganda is making bold moves to monetise its resources and become a key oil producer in East Africa. In partnership with major operators, UNOC is driving projects like Lake Albert and EACOP forward with clarity of vision and a strong national agenda.”
Uganda’s oil and gas sector is thus rapidly transforming into a major player in East Africa, driven by key projects and initiatives like the Lake Albert Development Project and EACOP.
With UNOC actively seeking strategic and financial partners, the country is open for business and ready to partner with global investors.
AEW 2025 provides a platform for investors to learn more about the opportunities available in Uganda’s oil and gas sector and to explore potential partnerships with UNOC.