Uganda Says Russian Company Wants Role in Crude-Export Pipeline
(Bloomberg) -- Uganda said a Russian company wants to participate in developing its planned crude-export pipeline by partnering with the local unit of GCC Services of the United Arab Emirates.
The announcement follows an intergovernmental meeting by officials of the two countries in Russia last week, Uganda’s foreign affairs ministry said Monday in an emailed statement. Another Russian company also wants to supply equipment for power stations generating between 2.5 megawatts and 60 megawatts, while RusHydro PJSC is also keen to invest in Uganda, according to the statement. The East African nation said it would consider the proposals.
France’s Total SA is the lead sponsor of the planned 216,000 barrels-per-day conduit expected to cost at least $3 billion. It’s developing Uganda’s crude finds of 6.5 billion barrels of oil resource jointly with Cnooc Ltd. of China and London-based Tullow Oil Plc.
RT Global of Russia initially won an award to build Uganda’s planned 60,000-barrels-per-day refinery, but the deal collapsed and the contract was later offered to a General Electric Co.-led group last month.
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