Regional Pipeline Deal Signed By Uganda and Tanzania

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Regional Pipeline Deal Signed By Uganda and Tanzania

Mon, 04/19/2021 - 14:12
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Flag of Tanzania and the national flag of Uganda (copyright by Shutterstock/esfera)
Flag of Tanzania and the national flag of Uganda (copyright by Shutterstock/esfera)

It is some 15 years since commercial sized crude oil deposits were discovered in Uganda near Lake Albert. During Sunday 11 April 2021, in Uganda’s state capital Kampala, Yoweri Museveni , President Samia Suluhu of Tanzania, and Patrick Pouyanne chief executive of the French oil company Total signed off on the East African Crude Oil Pipeline (EACOP).

This 1,445-kilometre heated crude oil export pipeline, the longest of its kind in the world will link Uganda’s Lake Albert oil fields to Tanzania’s Indian Ocean port of Tanga. The pipeline starts in Hoima in the Albertine Graben western Uganda and terminates at Tanga Port in Tanzania. The pipeline is expected to carry some 216,000 barrels of waxy Ugandan oil crude oil per day and could unlock up to $15 billion in investment.

The day marked the first official foreign trip of Samia Soluhu as President since she replaced John Magufuli in March 2021. The previous Tanzanian President was a keen backer of the $3.5 billion East African Crude Oil Pipeline (Eacop).

Tanzania will earn at least $12.70, from every oil barrel transported through the pipeline.

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