he East African Community (EAC), a regional bloc, has said preparations were in the final stages as Uganda readied to host the 10th East African Petroleum Conference and Exhibition 2023.
The 2023 edition of the conference, under the theme “East Africa as a hub for Investment in Exploration and Exploitation of Petroleum Resources for Sustainable Energy and Socioeconomic Development,” aims at showcasing the EAC as a destination of choice for oil and gas investment opportunities to enhance socioeconomic transformation, according to an EAC statement.
The conference and exhibition slated for May 9-11 will take place at a time when the EAC embarks on a journey to implement the EAC Vision 2050, said the statement issued Wednesday by the EAC headquarters in Tanzania’s northern city of Arusha.
According to the statement, the objective of the energy sector development under the EAC Vision 2050 is to ensure a sustainable, adequate, affordable, competitive, secure and reliable supply of energy to meet regional needs at the least cost.
The statement said by 2050, the region’s target is to transform the energy landscape to be characterized by an efficient distribution of petroleum products with sufficient strategic reserves.
Held biennially since 2003, the East African Petroleum Conference has provided increased awareness of the potential for the production of petroleum in the region and other important issues in the petroleum sector, including technological advancements in exploration, development and production, said the statement.
The EAC member states are Burundi, Kenya, Rwanda, South Sudan, Tanzania, the Democratic Republic of the Congo, and Uganda.