East Africa exploration and exploitation of oil and gas is increasing in findings and production and this ultimately has called for a re-examnitation of the current policies.
The latest discoveries of commercially feasible oil and gas deposits in Uganda and Kenya, combined with ongoing efforts to improve and make oil production in South Sudan more competent, have brought to the forefront the necessity to revisit national policies for the exploration and exploitation of oil and gas reserves. Revisiting these national policies is also brought about to improve the allocation of the revenues obtained from such activities. Informed discussions based on research and evidence on how best to efficiently and effectively manage East Africa’s natural resources are of significant meaning at this stage of the development of these resources.
Consequently, in order to deliberate on and critically explore these issues, leading policy think tanks in East Africa—the Economic Policy Research Centre (EPRC), Uganda; Kenya Institute for Public Policy and Analysis (KIPPRA); and Centre for Strategic Analyses and Research (C-SAR), South Sudan—in collaboration with the Africa Growth Initiative (AGI) at the Brookings Institution, Washington, D.C., organized the two-day Forum on the Management of Oil and Gas Resources for Inclusive and Sustainable Development in Africa. The forum brought together 114 delegates from the East Africa region to deliberate on how to efficiently manage their oil and gas reserves.
The delegates engaged in precise talk concerning the exploration and exploitation of oil and gas, the efficient and equitable management of oil revenues and the management of the environment. Their particular focus was on how regional cooperation can enhance the efficient utilization of the region’s resources. In addition to sharing their experiences about managing an oil-based economy, they emphasized the importance of openness and transparency in the design and implementation of policies for the management of this nascent sector.