Uganda, Kenya hold talks on oil and gas sharing

Uganda National Oil Company has held talks with Kenya National Oil Company and Kenya Pipeline Company on how the two countries can benefit from oil and gas discoveries.

In the talk session hosted by the National Oil Corporation of Kenya (NOC) , the companies shared experiences and ways of maximizing the benefits that come with oil and gas discovery.

Another point of discussion was on  ways of collaboration and partnership in line with East African Community integration.

According to the International Monetary Fund, Uganda has the fourth largest has proven reserves in sub saharan African with 6.5 billion barrels of proven crude oil, 2.2 billion of which is recoverable.

Kenya Petroleum and Mining Cabinet Secretary, John Munyes, confirmed Kenya was willing to aid the construction of  Uganda oil jetties in Jinja and Entebbe which in return will enhance the viability of Sh1.7 billion Kisumu’s new oil terminal.

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