French oil and gas major Total along with its partners has completed the final agreements required to build the $3.5bn Lake Albert development project in Uganda and Tanzania.
The partners are China National Offshore Oil Corporation (CNOOC), Uganda National Oil Company (UNOC) and Tanzania Petroleum Development Corporation (TPDC).
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The project involves the development of the Tilenga and Kingfisher oil projects in Uganda and the construction of the East African Crude Oil Pipeline (EACOP) in Uganda and Tanzania.
In this regard, accords have been signed, including shareholders agreement of EACOP and the tariff and transportation agreement between EACOP and the Lake Albert oil shippers.
The agreements have been signed between Total, CNOOC, UNOC and TPDC.
Total operates the Tilenga project, while CNOOC serves as the operator of the Kingfisher project. The two projects are expected to deliver production of 230,000 barrels per day at plateau, in total.
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By GlobalDataProduction from the fields in Uganda will be supplied via EACOP cross-border pipeline to the port of Tanga in Tanzania.
The shareholders are Total, UNOC, TPDC, and CNOOC.
Total said the main engineering, procurement and construction contracts are planned to be awarded in near future with first oil export scheduled in early 2025.
Total chairman and CEO Patrick Pouyanné said: “The Tilenga development and EACOP pipeline project are major projects for Total and are consistent with our strategy to focus on low breakeven oil projects while lowering the average carbon intensity of the Group’s upstream portfolio. These projects will create significant in-country value for both Uganda and Tanzania.
“Total is also taking into the highest consideration the sensitive environmental context and social stakes of these onshore projects.”
