The so-called Final Investment Decision should pave the way for the export of millions of barrels of black gold that was first discovered in 2006 in Uganda, one of the world's most biodiverse regions.
The $10 billion investment deal was announced at a ceremony in Kampala by the heads of France's TotalEnergies and the local arm of the China National Offshore Oil Corporation . "Today is the day we commit to invest $10 billion in the Tilenga and Kingfisher projects and the 1,443-km long pipeline," he said.Museveni admitted he had been impatient about the long negotiating process to get the project off the ground, but said the pipeline could become a"nucleus" for East African oil.
Uganda's first oil is expected to flow in 2025 -- almost two decades after the reserves were discovered -- with full-scale commercial production planned for the following year when 230,000 barrels a day of the particularly viscous crude are expected to be pumped.In Uganda, the drilling is located in several nature reserves, one of which extends to Murchison Falls, the country's largest national park.
Source: Energy Industry News (energyindustrynews.net)
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