Uganda to spend around US$22 billion for oilfields’ development

oilpump-winstar-paul lowry flickrUganda is reportedly among the countries Tullow Oil is targeting for oil production in the African continent. (Image source: Winstar Paul Lowry/Flickr)Uganda has announced that it will spend US$15bn to US$22bn in the coming years for the development of oilfields and related infrastructure in the country

According to Imara Equity Research, the export pipeline linking Kenya and Uganda and the 132 kV power line interconnecting the two nations have been completed.

The report also said that discussions were on between the Ugandan government and British oil and gas firm Tullow Oil for producing more oil, Ventures Africa said.

Other oil and gas giants that are Tullow’s partners in this project — Total and China National Offshore Production Company (CNOOC) — were also involved in talks.

In addition, the research report added that Uganda has been seeking venture capital to build another 60,000 bpd oil refinery in the western region of the landlocked Uganda. The government had shortlisted eight firms for the project in the western region of Uganda, it added.

Uganda is reportedly among the countries Tullow Oil is targeting for oil production in the African continent.

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