Uganda National Oil Company’s CEO to Speak at AEW 2023

Proscovia Nabbanja, CEO of the Uganda National Oil Company, will attend and speak at African Energy Week 2023 in Cape Town, showcasing the country’s promising oil and gas potential, as well as megaprojects currently underway in the region.

The African Energy Chamber (AEC), the voice of Africa’s energy sector, is excited to announce that Proscovia Nabbanja, an esteemed industry expert and CEO of the Uganda National Oil Company (UNOC), will be leading a delegation from UNOC and speaking at the highly anticipated African Energy Week (AEW) in Cape Town on 16-20 October 2023. Uganda represents one of the few remaining oil frontiers on the continent – estimated to hold up to 6.5 billion barrels of oil reserves – and is home to a competitive fiscal regime and strong government support that has made it an increasingly attractive destination for foreign investment.

Under Nabbanja’s leadership, UNOC plays a crucial role in Uganda’s emerging oil and gas industry, managing state participation in production licenses and holding a 15% participating interest in petroleum licenses for discovered oil and gas fields. UNOC currently oversees nine production licenses encompassing 13 oil and gas fields, which are set to be developed through the country’s highly anticipated Lake Albert Development.

This flagship development comprises the Tilenga and Kingfisher upstream oil projects, operated by TotalEnergies and China National Oil Corporation (CNOOC), respectively, alongside the construction of the East African Crude Oil Pipeline (EACOP) that will transport oil from Uganda’s fields to Tanzania’s Port of Tanga. Together, these projects are projected to reach a total production capacity of 230,000 barrels per day (bpd).

UNOC’s contributions to the ongoing construction of the EACOP have been instrumental. Jointly owned by TotalEnergies (62%), CNOOC (8%), UNOC (15%), and the Tanzanian Petroleum Development Corporation (15%), the crude oil pipeline will span approximately 1,443 km and carries an estimated investment cost of $3.5 billion. UNOC’s involvement in the project highlights its commitment to fostering regional cooperation and monetizing Uganda’s hydrocarbon wealth, both of which will be key discussion points at AEW 2023.

Additionally, UNOC is actively involved in exploring and advancing new petroleum ventures in Uganda. The national oil company is seeking to expand the country’s petroleum resources and maximize the benefits derived from hydrocarbon reserves through strategic partnerships. In this context, AEW 2023 provides an ideal platform for the company to establish new agreements, secure foreign investments and unlock the full potential of its frontier oil and gas market.

Leveraging her extensive experience in the oil and gas industry, Nabbanja will discuss the transformative role of these megaprojects in contributing to Uganda’s energy security and economic growth. Prior to assuming her role as CEO in October 2019, Nabbanja served as the COO – Upstream for UNOC and as a Principal Geologist in the Petroleum Exploration & Production Department. Nabbanja holds an MBA from Imperial College Business School, an Msc in Petroleum Geoscience from Imperial College London and a Bachelor’s of Science from Makerere University.

“The Chamber stands steadfast in its support for projects like the East Africa Crude Oil Pipeline, recognizing its potential to transform Uganda’s energy industry and catalyze regional economic growth. Proscovia Nabbanja has a strong technical background and unique expertise in identifying commercially viable investments across the petroleum value chain, and we are excited to amplify her efforts and receive her insights,” states NJ Ayuk, Executive Chairman of the AEC. “With her active involvement and participation at AEW 2023, oil and gas projects in Uganda and the wider East African region are set to gain momentum and attract the necessary investments to maximize their potential.”

AEW 2023 is the AEC’s annual conference, exhibition, and networking event. AEW 2023 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments. For more information about AEW 2023, please visit https://aecweek.com/.