The Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu.

As Uganda prepares for oil production early next year, the country has in place an integrated system that goes beyond the oil and gas value chain to also include the citizens of the country at large

The Ugandan administration has made oil and gas the centre of its operations, fostering partnerships on advancing public awareness regarding the sector. It is initiating ways to break down complex and ultra-technical concepts of the hydrocarbons industry for the better understanding of the general public. This also includes simplifying conversations around 'local content' or 'first oil' so that everyone can identify with the industry and be active drivers of it. 

As mega projects such as Tilenga and Kingfisher keep rolling, banks are especially focusing on the oil and gas industry, empowering local firms to pursue large contracts. They are initiating capacity-building partnerships, working capital solutions, asset finance and trade guarantees. 

Uganda's Ministry of Energy and Mineral Development has been the instrumental force behind such advancements. The Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, spoke to Oil Review Africa on Uganda's ambitions of becoming a significant energy producer in Africa's energy landscape:

How does Uganda plan to leverage the global oil market, given its current volatility? 

Uganda is mainly focusing on long-term contracts, regional market integration, and value addition through refining and petrochemicals. We are building resilience by maintaining fiscal discipline, encouraging local processing, and adopting clean, low-cost production to stay competitive even in volatile markets.

What are the primary driving factors behind Uganda's integrated oil and gas approach, and how is the country's administration managing such a vast concept? 

Integration maximises value across the petroleum value chain -- exploration, production, refining and export, while promoting industrialisation and job creation. Clear institutional roles of the Ministry of Energy and Mineral Development, Petroleum Authority of Uganda and Uganda National Oil Company, and coordinated project oversight will ensure efficiency, transparency, and timely delivery.

As Uganda rapidly adapts to a diverse energy mix, how is oil and gas faring in the equation?

Oil and gas remain central to Uganda’s energy security and industrial growth while supporting the transition to renewables. Gas is being developed for power generation, fertilisers and clean cooking, and revenues from petroleum will fund renewable expansion and grid investment.

Is a significant overhaul of existing policies anticipated with the launch of the revised National Oil and Gas Policy? 

There is no major overhaul, rather an update to reflect new realities. The revised policy strengthens gas utilisation, decarbonisation, local content and transparency, ensuring alignment with Uganda’s energy transition (preferably addition) plan and sustainable development goals.

What is Uganda willing to bring to the table in ADIPEC 2025, and what will be the country's take-aways from the event?

Uganda brings investment-ready projects in the upstream, East African Crude Oil Pipeline and refinery, and a stable policy environment. We seek partnerships, technology transfer, specifically Artificial Intelligence systems, financing and market linkages to accelerate development and advance our energy transition (addition) agenda. 

Capricorn has fulfilled all exploration commitments on its legacy acreage.

Capricorn has received US$50m from the Egyptian General Petroleum Corporation (EGPC)

Since 30 June 2025, the company has received a total of US$102m, and its accounts receivable is approximately US$115m (H1’25 - US$182m) (excluding expected credit loss adjustments).

The company expects to receive further material payments against arrears before year end.

Capricorn continues to invest in its Egyptian asset base and has fulfilled all exploration commitments on its legacy acreage. At South East Horus, Capricorn, with its joint venture partner Cheiron (the Joint Venture), has elected to continue into Phase 2 following test results. The Joint Venture will also be pursuing an application for a new development lease on the North Um Baraka (NUMB) concession due to encouraging test results from an exploration well drilled earlier this year. Additionally, the NUMB concession will be included in the modernised concession agreement allowing for continued exploration. On the West El Fayoum concession, commitments have been fulfilled, and the results are such that the Joint Venture will relinquish the block.

Customary ratification of the modernised concession agreement is now expected to take place in Q1 2026 due to limited time for additional business in the current session of Parliament. The modernised concession agreement will have an operational start date of 01 July 2025.

Capricorn remains on track to deliver above the mid-point of FY25 production guidance of 17,000-21,000 boepd with year-to-date production averaging 19,924 boepd to mid-October, of which 41% are liquids.

The MoU binds the two organisations to extend cooperation in hydrocarbons exploration.

Mozambique will see heightened bilateral cooperation in oil and gas driven by equality, reciprocity and mutual benefits, as the state-owned entity, Empresa Nacional de Hidrocarbonetos, E.P. (ENH), signed a memorandum of understanding (MoU) with SONATRACH

The MoU was signed by the chairman and CEO of SONATRACH, Rachid Hachichi and Ludovina Bernardo, chairwoman of the Board of Directors of ENH, during a ceremony organised at the Ministry of Mines and Energy of the Republic of Mozambique, in the presence of Mourad Adjal, Minister of Energy and Renewable Energies.

The MoU binds the two organisations to extend cooperation within the framework of hydrocarbons exploration and production projects that will also include transportation and downstream activities, while covering the whole value chain.

The partners are also considering a feasibility study on establishing a national gas distribution network for domestic consumption. SONATRACH is willing to provide training courses at ENH through knowledge-sharing in oil geology, engineering and operations.

This to believed to be the first internationally structured aviation financing for a Nigerian Air Operator. (Image source: VivaJets)

London-based TLG Capital (TLG) has closed a US$10mn facility for VivaJets, a subsidiary of Nigerian aviation services platform Falcon Aerospace limited 

The financing was structured alongside Wema Bank, and will retire a legacy local‑currency facility used for aircraft acquisition and fleet growth. Both TLG and VivaJets believe this to be the first internationally structured aviation financing for a Nigerian Air Operator, and funding will be applied to boost intra-African connectivity.

This injection of funds is coming at a time of rapid expansion for the business aviation firm with a growing fleet and international collaborations whilst positioning itself as a critical mobility and logistics partner to the oil and gas industry in Africa.

Speaking to journalists on the sidelines of the African Energy Week in Cape Town, South Africa, CEO of Falcon Aero, Erika Achum disclosed that the fresh funding will be used to expand VivaJets’ fleet and strengthen its operational presence across Africa.

“We’re growing from three to four aircraft now, and by the third quarter of 2026, we expect to have significantly increased our fleet. This will allow us to serve more routes and clients across the continent,” Achum said.

According to the aviation tycoon, the company is reshaping how air logistics supports oil and gas operations, ensuring essential movement of people, equipment and products in a sector where time delays often translate into enormous financial losses.

Isha Doshi, partner, TLG Capital, said, “Africa’s growth story depends on connectivity. Falcon Aero is linking cities that global capital often overlooks, including tier-2 and tier-3 hubs where trade and opportunity are rising fastest. Aviation operators need long-duration capital at sensible rates. With our partners at Wema Bank and Falcon Aero, we are pleased to deliver a long-term financing solution that helps support highly skilled engineers, pilots, and workers in Nigeria's aviation sector."

Tejumade Salami, chief operating officer of Falcon Aero, said, "We spoke to many lenders; TLG solved it. Their structured-solutions mindset turned a complex funding puzzle into a single, bankable facility. In our industry, the ability to access long-tenor, USD-denominated capital is critical. With this facility, we have retired legacy obligations and can now focus fully on curating a seamless experience for our clients across the region. Our facility with TLG substantially reduces the amount of our revenue and cash flow that is spent on interest and debt service."