11 December 2012

Uganda: Museveni Meets Russian President Vladimir Putin

President Yoweri Museveni has held talks with the Russian president Vladimir Putin at the Novo-Ogaryovo state residence outside Moscow.

The two leaders discussed the prospects of strengthening bilateral cooperation in oil and gas and electric power

Russia has several interests with Uganda which range from supplying combat aircraft to oil and gas projects.

Russia's President Vladimir Putin (R) meets with his counterpart Yoweri Museveni at the Novo-Ogaryovo state residence outside Moscow December 11. Reuters

Uganda signed its first contract to buy six Sukhoi Su-30MK2 fighters from Russia early this year for an undisclosed sum.

On the other hand, 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 continues to grow ever since crude oil deposits were discovered in 2006 in the Albertine Graben area along the country's western border with the Democratic Republic of Congo. Current reserves are estimated at about 3.5b barrels.

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