Uganda, TotalEnergies, CNOOC reach $10-billion FID

KAMPALA, February 1, 2022 – The government of Uganda has reached a minimum USD 10-billion FID with TotalEnergies and CNOOC for the Lake Albert oil projects and their associated oil export pipeline.

The deal covers the Tilenga and Kingfisher oil developments and the East African Crude Oil Pipeline (EACOP).

TotalEnergies tweeted the news early on Tuesday, and the Uganda Chamber of Mines and Petroleum live-streamed an announcement ceremony on its YouTube channel:

Uganda’s hydrocarbons activity is focused on two projects: the TotalEnergies-operated Tilenga Project and the CNOOC-operated Kingfisher Project, both in the Lake Albert area. Commercialisation is expected via an in-country refinery with a capacity of 60,000 bpd and via the EACOP, with a capacity of up to 180,000 bpd. Both are being developed to receive first oil by 2023-2024.

In April 2021, the Ugandan government, TotalEnergies and CNOOC reached an agreement to move ahead with the projects.

For more on TotalEnergies’ and CNOOC’s project development plans in Uganda, read our latest interviews with Pierre Jessua, then-country chair of TotalEnergies Uganda, and Chen Zhuobiao, president of CNOOC Uganda.

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