Uganda/ Tanzania crude oil export pipeline construction is set to begin in January 2017 according to Uganda’s Energy Minister Irene Muloni reports The Citizen
The Energy Minister said the two East African countries agreed to fast track the 1,443 kilometres project
“Every activity in respect to the project will be done in a fast tracking mode. We have agreed to meet in Tanga (Tanzania) in October this year to launch the front-end-engineering-design for the project” said Ms. Moloni to the press after a closed door meeting between the two countries
The pipeline project coined East African crude oil pipeline (EACOP) will cost roughly 3.55 billion dollars according to feasibility studies. Land acquisition assessments, surveys, environmental and social impact studies will be done before the beginning of construction.
A pipeline company for the project will be set up, Uganda, Tanzania and other interested East African states will hold the shares.
“The pipeline is very attractive and viable. Securing financing will be explored in much detail. Contacts are being made to potential funders.” Said the energy minister
Uganda discovered more than 6.5 billion barrels of crude oil from 40 percent of the Albertine basin in Western Uganda.