The Oil and Gas industry with an estimated investment exceeding US$20 billion provides Uganda with a unique opportunity to accelerate industrialization, infrastructure development and energy security. Beyond resource extraction, it mobilizes capital into infrastructure, manufacturing, and energy generation, while anchoring Uganda’s industrialization agenda.

The contribution of mining and quarrying activities to GDP, though low (1.2% to GDP in FY2024/25), has significant potential for growth. Recent improvements in the performance of mining and quarrying activities are majorly attributed to increasing support services in the oil and gas sector. According to the Petroleum Authority of Uganda, the sector is expected to generate thousands of direct jobs and over 150,000 indirect jobs during the development phase, while catalyzing local content participation across construction, logistics, and services. With recoverable reserves estimated at 6.5 billion barrels, Uganda’s oil projects, particularly the Tilenga and Kingfisher fields and the East African Crude Oil Pipeline (EACOP), are positioned to transform the economy by boosting export revenues and reducing reliance on external financing.

For the 10fold Growth Strategy, Oil and Gas act as a multiplier by stimulating investment in complementary sectors such as petrochemicals, manufacturing, and energy generation. Revenue from oil exports, projected to peak at US$5billion annually, will enhance fiscal space for infrastructure, health, and education, while public-private partnerships ensure technology transfer and skills development. In this way, oil and gas are not only a resource but a strategic enabler providing the capital, energy, and industrial base necessary for Uganda to achieve sustained double-digit growth and regional economic leadership.