Oil companies operating in Uganda have announced significant new discoveries this year in the Albertine Rift Valley region in Western Uganda. Technical and financial challenges remain, but current projections suggest that Uganda could become an oil producing nation within a few years. Oil resources could, if properly managed, help to strengthen Uganda’s economy and development prospects.
The UK has urged the Government of Uganda to design and implement sound and transparent strategies for harnessing oil resources that support peaceful economic and political development.