Uganda has more than doubled its annual oil and gas budget for the financial year 2024/2025, the country’s Finance Minister Matia Kasaija announced. The budget has increased from previous allocations of $246 million, ending June 2025.
The increase comes ahead of first oil production expected at the Kingfisher and Tilenga oil projects in 2025 and aims to support the rollout of oil and gas infrastructure across the country.
Specifically, the funds will be allocated towards the development of the $5 billion East African Crude Oil Pipeline – a 1,443km pipeline connecting Uganda’s Kingfisher and Tilenga oilfields with Tanzania’s Port of Tanga – as well as a planned $4 billion refinery with a capacity of 60,000 barrels per day. To date, the pipeline has secured $2 billion in financial commitments.
In addition to project deployment, funds will be directed towards the development of a petroleum geoscience laboratory in the country as well as for the procurement of LPG cylinders.
