Browsing: Oil and Gas in East Africa

Uganda Tanzania agreement for EACOP
  • The EACOP is one of the biggest oil project in Uganda
  • The total investment has reached $10 billion
  • Uganda will pay Tanzania $ 12.20 per barrel transported through the pipe

The East African Crude Oil Pipeline project has again reached another height as the two partnering nations, Tanzania and Uganda, have signed a Memorandum of Understanding on cooperation in defence and security for the ambitious and controversial EACOP project.

The signing was penned on Friday last week at the climax of a three-day Inter-governmental Security Committee Meeting held in Kampala, Uganda.

The MoU was signed on behalf of the two nations by Uganda’s Minister of Defence and Veteran Affairs Vincent Bamulangaki Ssempijja and his Tanzanian counterpart, Minister of Defence and National Service Dr Stergomena Tax.

According to the Ugandan minister, the MoU was an important matter to be concluded, as highlighted by the two partner nations, President Samia Suluhu Hassan

For decades now, the word Somalia has become synonymous to malnutrition. You hear Somalia and the first picture that comes into your head is that of the scrawniest infant you have ever seen; hairless, ribs, collar bones and cheeks bones protruding so much it seems the child has no skin, just a pigment on the skeleton. 

That is the poor, malnourished Somalia we have all grown up to hear about. In fact, the only other picture of Somalia is not any better, now you hear Somalia and you think pirates; thin, malnourished pirates wielding the menacing Russian made Kalashnikovs.  

Why? History would have us believe it is just ill fate that befell the country, it geographical location is its very curse, a desert by the sea. If you don’t give it a second thought, you may just end up feeling sorry for Somalia. 

However, what is the difference

Tullow oil

The $3.5 billion and 1,443 km crude oil pipeline project, stretching from Lake Albert in Uganda to Tanzania’s port in Tanga, will be fast-tracked to commence the implementation of the project, which was put on hold last year.

Tullow is a recognised independent oil & gas, exploration and production company based in Africa and South America The company has interests in over 70 exploration and production licences across 15 countries.

According to information from The Citizen, a Total delegation led by President, Exploration and Production Arnaud Breuillac held talks with Energy minister Dr Medard Kalemani on Friday. The talks aimed at updating the Tanzania government on the new development.

“We are now enabled to fast track finalisation of legal and commercial agreements to pave the way for the Final Investment Decision (FID) before commencing implementation of the Project,” he said.

However, as both partners—Tanzania and Uganda face-off COVID-19 challenges, Mr …

UNOC to invest $840m in oil and gas sector

Uganda National Oil Company (UNOC) to invest $840 million in joint infrastructure projects in the oil and gas sector in Uganda, said Proscovia Nabbanja, the Chief Executive Officer.

Nabbanja signed a memorandum of understanding with Stanbic Bank to facilitate the two entities collaborating to train local entrepreneurs ahead of oil developments.

She said a significant amount of money either through loans or the national budget will go towards investments in the refinery, pipeline, bulk trading, storage tank as well as the industrial park.

“We hope that this level of equity will be spread in a period of five years in our national budgets to ease pressure on the country’s debt burden,” she said. “The investment will be based on the medium-term expenditure framework.”

Also Read: Uganda projected growth too ambitious, World Bank

Out of the planned $4 billion in the oil refinery and $3.5 billion investment in the pipeline, UNOC …