CNOOC reaches FID on Uganda Kingfisher Project
KAMPALA, November 4, 2021 – China’s CNOOC has reached a final investment decision on the Kingfisher Project, paving the way for development of one of Uganda’s key oil plays and its game-changing oil export pipeline.
The FID was confirmed on Thursday by Ernest Rubondo, executive director of the Petroleum Authority of Uganda.
Read our latest interview with Ernest Rubondo here.
State-run CNOOC has pledged to spend USD 460 million on contracting Ugandan companies to develop the project, located in the Lake Albert Basin, according to Chen Zhuobiao, president of CNOOC Uganda.
Read our latest interview with Chen Zhuobiao here.
The Kingfisher development will include a 40,000-bopd central processing facility. The field is expected to come on line in H1 2025.
The project is located near TotalEnergies’ planned 190,000-bopd Tilenga development. Oil from the two projects will be carried to the port of Tanga in Tanzania via the planned East African Crude Oil Pipeline.