Total and CNOOC take FID for the Lake Albert oil project (Uganda/Tanzania)
TotalEnergies and CNOOC (China National Offshore Oil Corporation) have taken final investment decision (FID) for the Lake Albert oil development project in Uganda and Tanzania. The two companies have committed to invest US$10bn in project, including two oil blocks and a pipeline. The project includes the development of two oil blocks in Uganda, both owned by Total (56.67%), CNOOC (28.33%) and Uganda National Oil Company (UNOC, 15%), namely Tilenga (operated by Total) and Kingfisher (operated by CNOOC). The fields were discovered in 2006 and first oil is scheduled for 2025; they are expected to reach a cumulative production level of around 230,000 bbl/d at plateau. In addition, the project involves the construction of the East African Crude Oil Pipeline (EACOP), a 1,443-km heated pipeline between Kabaale–Hoima in Uganda and the Chongoleani peninsula near Tanga port in Tanzania. The pipeline is owned by TotalEnergies (62%), UNOC (15%), Tanzania Petroleum Development Corporation (TPDC, 15%) and CNOOC (6%).
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