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Mr Putin to discuss oil with Uganda
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Tuesday, 11 Dec 2012

RIA Novosti reported that Mr Vladimir Putin president of Russia will meet his Ugandan counterpart Mr Yoweri Museveni to discuss broader trade and economic cooperation with the East African country.

As per report, during the negotiations the sides intend to discuss the prospects of strengthening bilateral cooperation in oil and gas electric power and other spheres. Russia’s interests in the East African nation range from supplying combat aircraft to oil and gas projects.

Uganda signed its first contract to buy 6 Sukhoi Su-30MK2 fighters from Russia early this year for an undisclosed sum and is currently in talks with Russian state arms export company Rosoboronexport over an option purchase of six more Su-30 jets.

In the oil and gas sphere, Russia’s largest independent crude producer LUKoil has expressed interest in oil and gas exploration, production and refining in Uganda.

Foreign interest in Uganda’s oil sector has grown after crude oil deposits with reserves estimated at billions of barrels of oil were discovered in 2006 in the Albertine Graben area along the country’s western border with the Democratic Republic of Congo.

Source - RIA Novosti


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