UK Pledges USD30M For East African Oil and Gas Sector

United Kingdom has committed $30 Million to help East Africa realize potential of its oil and gas sector.

Speaking at the at 4th East Africa oil and gas summit, British High Commissioner, Nic Hailey said, “We have committed $30m towards the development of local content, technical advice towards developing legislation and regulation, research, and engagement with the industry and civil society.”

Hailey noted that with the new discoveries of oil and gas across the region, states must get the business environment right for the exploitation of extractives in a sustainable and equitable way.

“We need to encourage investment whilst ensuring local populations benefit from revenues.”

“Critical issues remain around how revenues are shared between local communities, at county and national level. This is important to balance the benefits to countries as a whole and to ensure that the security and enabling environment in the oil producing areas is right.”

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Kenya, Uganda, Tanzania and Mozambique are beneficiaries of the 5 year project being run by the UK – with support from Germany – on Skills for Oil and Gas Africa programme to maximise local employment in the regional oil and gas sector.