Monday, October 19, 2020
To facilitate production of its oil resources, the Ugandan government has commenced construction of strategic roads in the Albertine region, as well as Hoima Industrial Park which is aimed at building a strong industrial base in the Albertine region to support local economic development.
Partners Total and CNOOC lead the oil and gas project in Uganda where they are looking to develop an estimated 1.7 billion barrels of recoverable oil resources in the Albertine Graben around Lake Albert in western Uganda.
Recently, Uganda and Tanzania have signed an agreement which will see the construction of a nearly 900-mile crude oil pipeline, dubbed the East African Crude Oil Pipeline (EACOP). The pipeline, estimated to cost $3.5 billion, will connect Ugandan oil fields to the Tanga Port in Tanzania.