Page 9 - AfrOil Week 08 2023

AfrOil INVESTMENT AfrOil

The 216,000 bpd pipeline will be 1,443 km long (Image: EACOP)

With respect to land access, Brown noted that Uganda to Tanga on Tanzania’s Indian Ocean
around 13,000 of the households affected by coast. The link will be heated to compensate for
the project had been compensated. Only 4% of the waxy nature of the crude, and it will be the
those affected have been displaced, she added. longest heated pipe in the world.
She went on to say that EACOP Ltd and its EACOP is the midstream component of the
shareholders were committed to minimising Lake Albert Development Project (LADP), a
the project’s ecological impact along the route $10bn initiative that aims to monetise Ugan-
of the oil pipeline. The pipeline consortium “will da’s crude oil resources. It will carry production
comply with not only the laws of Tanzania and from the Tilenga and Kingfisher oilfields, which
Uganda but also with the most stringent inter- France’s TotalEnergies and China National Off-
national standards,” she was quoted as saying by shore Oil Corp. (CNOOC) aim to bring online
AFP. in 2025.
Equity in EACOP Ltd is split between CNOOC’s Kingfisher field and TotalEn-
TotalEnergies (France), with 62%; Uganda ergies’ Tilenga field will eventually see yields
National Oil Co. (UNOC), with 15%; Tanzania top 250,000 barrels per day, with 216,000 bpd
Petroleum Development Corp. (TPDC), with flowing to world markets via EACOP. The bal-
15%; and China National Offshore Oil Corp. ance will be directed to a 60,000-bpd refinery in
(CNOOC), with 8%. The partners aim to build Uganda, which will turn out fuels for consump-
a 1,443-km pipeline from Hoima in western tion in local and regional markets. ™

INVESTMENT
Galp reportedly hires Bank of America to

arrange sale of 10% stake in Rovuma LNG

MOZAMBIQUE PORTUGAL’S Galp is reportedly gearing up (GHG) emissions intensity.
to drop a minority stake in Rovuma LNG, a On February 16, the Negocios newspaper
consortium formed to extract and process nat- quoted a source with ties to the energy sector
ural gas from a section of the Area 4 block off- as saying that the Portuguese company was now
shore Mozambique, from its African upstream looking to put its 10% share in Rovuma LNG
portfolio. up for sale.
Galp has already arranged to sell off some of The source, who spoke on condition of ano-
its African assets, including its stakes in several nymity, claimed that Galp had arranged for
Angolan offshore blocks, in order to stream- Bank of America (US) to lay the groundwork
line its holdings and reduce its greenhouse gas for the sale.

Week 08 23•February•2023 www. NEWSBASE .com P9