(Boursier.com) — During a ceremony held in Kampala in the presence of Yoweri Museveni (President of the Republic of Uganda), Philip Mpango (Vice-President of the United Republic of Tanzania), Patrick Pouyanné (President- general manager of TotalEnergies), and representatives of China National Offshore Oil Corporation (CNOOC), Uganda National Oil Company (UNOC) and Tanzania Petroleum Development Corporation (TPDC), the Lake Albert Development Project partners announced the decision final investment and the launch of this major project. It represents an overall investment amount of around 10 billion dollars.
The Lake Albert development includes the upstream oil projects of Tilenga and Kingfisher in Uganda and the construction of the East African Crude Oil Pipeline (EACOP) in Uganda and Tanzania. The Tilenga project, operated by TotalEnergies, and the Kingfisher project, operated by CNOOC, should go into production in 2025, and reach a cumulative production of 230,000 barrels per day on the shelf.
The upstream partners are TotalEnergies (56.67%), CNOOC (28.33%) and UNOC (15%). Production from the oil fields in Uganda will be transported to the port of Tanga, Tanzania, via the cross-border EACOP pipeline whose shareholders are TotalEnergies (62%), UNOC (15%), TPDC (15%) and CNOOC (8 %).
All the partners are committed to implementing these projects in an exemplary manner, taking into account environmental and biodiversity issues as well as the rights of the communities concerned, in accordance with the demanding performance standards of the International Finance Corporation ( IFC).
In this context, the land acquisition program is continuing, integrating the areas for improvement identified as part of the independent reviews carried out following the first phase of this program carried out in 2018-2019.
In addition, TotalEnergies is committed to implementing action plans to produce a net positive impact on biodiversity in the context of carrying out these projects. Defined in conjunction with the authorities and stakeholders in charge of nature conservation in Uganda and Tanzania, these action plans will be implemented in collaboration with local communities and under the supervision of an independent institution.
This development of hydrocarbons is in line with TotalEnergies’ strategy of approving new projects only if they present low costs and low emissions. In particular, the design of the facilities incorporates several measures making it possible to limit greenhouse gas emissions to well below 20 kg CO2eq/boe, including the extraction of Liquefied Petroleum Gas intended for recovery on the regional market in substitution of biomass burning and solarization of the EACOP pipeline.
Conclusion of a MOU in renewable energies
TotalEnergies and the Ugandan Ministry of Energy and Minerals also signed, on February 1, a memorandum of understanding (MoU) relating to the development of renewable energies with the objectives of developing 1GW of installed capacity, promoting access to electricity and clean energy, to support national climate change objectives through the deployment of carbon footprint reduction projects.