The Uganda National Oil Corporation (UNOC) Recently signed the final decision More than 10,000 million dollars To develop a major project and pipeline to become a net exporter of crude oil by 2025.
TotalEnergies, China National Offshore Oil Corporation (Cnooc), Tanzania Petroleum Development Corporation (TPDC), and UNOC They will advance the development of the Tilenga and Kingfisher fields, and expect to reach production of 230,000 barrels per day.
They will also build an oil pipeline It will move production across East Africa Countries that do not have access to the sea will be allowed to move their barrels.
Before this day, there were long negotiations. “It’s time to act and time is money, so we mustn’t waste a single day,” said Patrick Pouyanne, CEO of TotalEnergies.
The pipeline will be It is about 1,444 kilometers long It will consist of approximately $4,200 million.
In detail, it holds a total of 62% stake in the project, UNOC and TPDC each own 15%, while China’s Cnooc holds the remaining 8%.
The goal is to reach the estimated production of 2025 in this way Uganda will become a larger producer than some members of the Organization of the Petroleum Exporting Countries (OPEC).
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