East African Crude Oil Pipeline Tripartite Project Agreement

Uganda and Tanzania together with Total E&P and China National Offshore Oil Corporation (CNOOC) Uganda have signed the East African Crude Oil Pipeline Tripartite Project Agreement, signaling the beginning of the development phase for commercial production of oil starting with building of the pipeline. The two governments were represented by presidents Yoweri Museveni and Samia Suluhu Hassan who flew into the country early this morning while Total E&P was represented by Patrick Pouyanne Chief executive officer and Chairman and Yuan Guangyu, President for China National Offshore Oil Corporation (CNOOC) Uganda The governments of Uganda and Tanzania are shareholders in the…