Uganda Brings Forward Pipeline Final Investment Decision to 2018

(Bloomberg) -- Uganda has brought forward its final investment decision for a planned 1,445-kilometer (900-mile) crude-export pipeline to the end of 2018 from June 2019, according to its Energy Ministry.

Intergovernmental accords with Tanzania, where the bulk of the conduit will pass through, are still expected to be signed by the end June, to pave way for early works on the project, the ministry said on its Facebook page.

Uganda opted to route its crude via Tanzania two years ago instead of earlier plans of transiting through Kenya. France’s Total SA is the lead sponsor of the project known as the East African Crude-Oil Pipeline. Uganda targets the conduit to start operations in 2020.

Total, China’s Cnooc Ltd. and London-based Tullow Oil Plc are jointly developing Uganda’s crude finds of up to 6.5 billion barrels of oil.

©2018 Bloomberg L.P.