The East African Community (EAC) on Friday said 1,000 participants from across the world were expected at the10th East African Petroleum Conference and Exhibition (EAPCE).
The EAPCE biennial conference would be held under the theme: East Africa as a hub for Investment in Exploration and Exploitation of Petroleum Resources for Sustainable Energy and Socioeconomic Development, aiming at promoting the region’s petroleum potential and investment opportunities.
“The last nine petroleum conferences have proven a valuable forum for governments and petroleum industry players from around the world to dialogue,” said the statement.
Peter Mathuki, the EAC secretary general, said the conference provided a forum for dialogue for all players in the petroleum industry regionally and internationally.
Mathuki said the 2023 edition of the conference was also in line with the EAC’s broad goal to achieve economic, social and political integration.
He said this was to create wealth in the region and enhance competitiveness through increased production, trade and investment in the oil and gas sector.
The EAPCE, first held in 2003, had provided increased awareness of the potential for petroleum products in the region.
According to the statement, it also brought awareness on other important issues in the petroleum sector, including technological advancements in exploration, development and production.
The EAPCE would take place at a time when the EAC has embarked on a journey to implement its Vision 2050 aimed at ensuring a sustainable, adequate, affordable, competitive, secure and reliable supply of energy to meet its regional needs at the least cost.
It added that by 2050, the region’s target would be to transform the energy landscape to be characterised by an efficient distribution of petroleum products with sufficient strategic reserves.