Uganda signs MoU with Norway on Oil and Gas

The Ugandan Investment Authority in partnership with Norway have signed a memorandum of understanding on a wide variety of issues including the promotion of investment in oil and gas.

According to the Norwegian Ambassador Thorbjorn Gaustasaether MoU it is hoped will help both countries share their experience in the field of oil and gas.

“The MoU aims at enhancing cooperation between Innovation Norway and UIA to identify investment projects and business opportunities between Norway and Uganda,” Jens Claussen, the counselor and director Innovation Norway is quoted by the country’s New Vision newspaper.

According to Uganda Investment Authority executive director Dr. Frank Sebbowa the partnership will also enable Uganda upgrade its human resource in the new sector with production expected in 2015.

“The MoU will guide our cooperation for the mutual benefit of two countries especially on trade and investment,” Sebbowa is quoted by the country’s New Vision newspaper.

Apart from oil and gas the two countries will also share their expertise in the information communication,agriculture and agro-based industry as well as renewable energy.