Russian multinational RT Global Resources is discussing details of its role in the Uganda Refinery construction project in the coming Uganda International oil and gas summit in Kampala, the organizer confirmed.
“RT Global will discuss its role in building and operating Uganda’s $2.5 billion crude oil refinery, which will process hydrocarbon reserves situated along its border with the Democratic Republic of Congo, estimated at 6.5 billion barrels”. notes a statement from the event organizer Global Event Partners
The Uganda International Oil and Gas Summit (UIOGS) is a prestigious government led conference which will provide a platform to discuss the development and best practice of Uganda’s budding oil and gas industry. The conference will take place on September 16-17 2015 at Serena International Conference Center Kampala.
RT Global won the contract the to build Uganda’s oil refinery in the Albertine graben and a finished product pipeline from refinery to the assembly point in Buloba near Kampala
The company which is owned by Russian defense conglomerate Rostec, leads a consortium that also includes Russian oil producer Tatneft and VTB Capital, the investment banking unit of Russia’s bank VTB. Others partners include South Korea’s GS and Telconet Capital Ltd Partnership.
According to Global event Partners, the summit is the first to be attended by Uganda’s recently formed National Oil Company (NOC). NOC is an organisation by law established to manage Uganda’s commercial interests in the oil and gas sector.
The summit will also feature a delegates from the 16 firms listed for evaluation in the first oil exploration licensing round of six blocks in the graben. Industry Major players including CNOOC, Total and Tullow have also confirmed attendance of the conference