• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 29, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

TotalEnergies, CNOOC in deal to invest in Uganda’s Lake Albert

Uganda

The Matters Press by The Matters Press
February 3, 2022
Reading Time: 2 mins read
0
TotalEnergies, CNOOC in deal to invest in Uganda’s Lake Albert

TotalEnergies and project partner China National Offshore Oil Corporation (CNOOC) have announced the Final Investment Decision (FID) for the Lake Albert Development project in Uganda,

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

The project is designed to usher in a new era of enhanced energy security in East Africa. At a total investment of approximately $10 billion, the FID follows a deal signed with the Ugandan and Tanzanian governments.

Following the discovery of crude oil reserves in the Lake Albert Rift Basin in 2006 and 2009 by Tullow Oil, as well as the considerable efforts made by Heritage Oil Plc. to open up the Albert and Kingfisher assets, Uganda has been focused on developing domestic production capacity in the country.

In 2020, Tullow sold its assets to TotalEnergies, with the French based major now working in collaboration with the CNOOC to grow the entire energy value chain.

Now, with the Lake Albert Development, the project developments will be instrumental in positioning both Uganda and Tanzania as competitive hydrocarbon markets.

Comprising the Tilenga and Kingfisher upstream projects – which are set to start producing 190,000 and 40,000 barrels per day (bpd) in 2025, respectively – as well as the construction of the East African Crude Oil Pipeline (EACOP), the development will enable Uganda to fully monetize its 1.4 billion barrels of recoverable oil resources while providing export opportunities through Tanzania.

Representing a 1,443km, 216,000 bpd export pipeline, the EACOP will connect landlocked Uganda with international markets, bringing in critical foreign expenditure for the country.

“The development of Lake Albert resources is a major project for Uganda and Tanzania, and our ambition is to make it an exemplary project in terms of shared prosperity and sustainable development.

We are fully aware of the important social and environmental challenges it represents. We will pay particular attention to use local skills, to develop them through training programs, to boost the local industrial sector in order to maximize the positive local return of this project,” stated Patrick Pouyanné, chairman and CEO of TotalEnergies in a Press Release issued by the company.

Tags: Total
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
Chamber wants to cut production

OPEC allocates new oil production quota

Who is lying, Obasanjo or NAN?

Obasanjo assures of not relocating burnt farm in Benue

Recommended Stories

OBJ, PMB meet eye-to-eye after brush

January 22, 2019
Nigeria regains top crude oil production spot in Africa

Group praises Nigeria’s surge in rig count, improved crude production

March 6, 2025
Coker solicits PPP to develop tourism

Tourism a thriving industry – NTDA DG

August 31, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us