Uganda’s long awaited oil and gas final investment decision (“FID”) is expected shortly during this month. The Government of Uganda acting through the National Oil Company (“UNOC”) together with French oil major Total E&P (“Total”) and the China National Offshore Oil Corporation (“CNOOC”) will commit to move ahead with investment in the requisite infrastructure for crude oil production. FID signifies that the investors have determined that it is commercially viable to move ahead the intended project and that they also have sufficient financial resources for investment. There will be two simultaneous decisions launching both the oil production fields and East…
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