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It also indicated that decarbonisation goals had development and supply of energy,” it said.
influenced its decision. “Inpex will proactively Inpex acquired its stake in the Offshore D.R.
engage in energy structure reforms towards Congo block in July 1970. The field, which cov-
the realisation of a net-zero carbon society ers an area of about 1,000 square km, began
while fulfilling its responsibilities for the stable commercial production in December 1975.
Oil, gas and pipeline projects set
to boost FDI in Uganda, Tanzania
UGANDA/TANZANIA UGANDA and Tanzania are set to see foreign than $3.5bn, he added.
direct investment (FDI) levels rise considerably Speaking at the same symposium, Betty
in the coming year as a result of crude oil and Namubiru, the national content manager of
natural gas development, according to the Pri- the Petroleum Authority of Uganda (PAU),
vate Sector Foundation of Uganda (PSFU). noted that the cost of developing the fields near
Elly Karuhanga, the chairman of PSFU, Lake Albert that will provide throughput for
said last week that much of the increase would EACOP was anticipated to reach $9bn. These
occur on the back on the East Africa Crude Oil upstream projects have already drawn some
Pipeline (EACOP) project, which provides for $3.5bn in FDI, and a related midstream initia-
the establishment of a new oil export route con- tive – namely, the planned construction of an
necting fields in western Uganda to Tanzania’s oil refinery at Kabaale – is set to attract another
coast. This project alone could boost FDI by $4bn, she said.
60% during the construction phase, he said at The refinery project is currently in the front-
the Tanzania-Uganda Oil and Gas symposium end engineering and design (FEED) study
in Dar-es-Salaam. phase, Namubiru stated. She also reported that
He went on to say that EACOP might cre- Ugandan authorities had begun the process of
ate more than 5,000 jobs directly, along with acquiring land along the planned route of the
another 20,000 jobs indirectly. Under these cir- 1,443-km EACOP link.
cumstances, he said, “communication is vital to The governments of Tanzania and Uganda
bring local companies up to speed with what is teamed up with TotalEnergies (France) and
required of them to participate in this oil and gas China National Offshore Oil Corp (CNOOC)
sector.” to sign a package of agreements on the EACOP
Karuhanga further stated that the two coun- project in April of this year. The parties have
tries’ oil and gas sector was set to attract a total already agreed that some of the contracts for
of $20bn worth of investment in oil and gas work on the pipeline will be reserved for local
projects. EACOP alone is expected to cost more companies.
EACOP is expected to carry a price tag of more than $3.5bn (Image: African Energy Chamber)
Week 44 03•November•2021 www. NEWSBASE .com P7
