The recent oil discovery in Uganda has awakened investor interest in prospecting for oil in East Africa, this despite the global economic downturn.

Speaking at a regional conference on petroleum held in Mombasa this week, the East African Community’s deputy secretary general Julius Onen said there is currently a resurgence in oil prospecting in East Africa.

The EAC plans to establish a common market by 2010, in addition to other harmonization efforts aimed at attracting investment in key sectors such as energy.

Kenya’s vice president Kalonzo Musyoka said pursuing common interests like energy security could bring about joint action in developing infrastructure, oil and gas refining and distribution.