The project is operated by France’s Total and CNOOC, and plans to transport oil from Lake Albert to a port in the Indian Ocean.
Uganda, Tanzania, and French oil companies Total and China National Offshore Oil Corporation (Cnooc) signed several agreements on Sunday, April 11, paving the way for the construction of a pipeline that will transport future Ugandan crude oil to Tanzanian ports in the Indian Ocean. source. The project is operated by Total and Cnooc, and aims to extract mineral deposits discovered in Uganda’s Lake Albert (Western) region in 2006 and transport oil through the pipeline, the East Africa Crude Oil Pipeline (Eacop). , The estimated cost is 3.5 billion US dollars (approximately 2.9 billion euros).
The discovery of these reserves at the time aroused hope within the Ugandan authorities to see their country turn into oil Eldorado. But the closely linked crude oil and pipeline construction projects have been entangled in trade and tax disputes between the two sides. The agreement signed at the Presidential Palace in Entebbe near Kampala on Sunday, especially the agreement signed by Ugandan President Yoweri Museveni and his Tanzanian President Samia Suruhu Hassan, should make it smooth Unobstructed pipeline construction becomes possible.
The two heads of state pointed out in the joint final communiqué: “All outstanding issues related to the Ecop project have been properly resolved” then’“All stakeholders have also signed a shareholder agreement”.They therefore agree “Each country takes all necessary measures to implement the Ecop project” And also signed a pricing agreement and added the company [Total et Cnooc] Now you can start the project.
Under the waters and shores of Lake Albert, a 160-kilometer-long natural barrier separates Uganda from the Democratic Republic of Congo (DRC), equivalent to 6.5 billion barrels of crude oil, of which about 1 to 4 billion barrels of crude oil can be recovered. The current status of the discovery. Uganda’s reserves can last 25 to 30 years, and the maximum production is estimated at 230,000 barrels per day.
Eacop is a 1,443 kilometers long heating pipeline (including 296 kilometers in Uganda), which will bring Ugandan oil to Tanzania’s Tanzania port. The project has been strongly criticized by non-governmental organizations, who are worried about its impact on the environment and local residents. More than 250 local and international NGOs target 1Yes Letter to large private banks in March, urging them not to raise funds “The world’s longest heated crude oil pipeline”To “Fully documented risks” For people, water, nature and climate.