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East Africa crude oil pipeline project signs final agreement
Date: Click quantity: 14

Tanzania’s mainstream media, “The Guardian” and “Daily News” reported on April 12 that Uganda, Tanzania, Total and CNOOC signed the final agreement for the East Africa Crude Oil Pipeline Project (EACOP) on April 11 at the Presidential Palace in Entebbe, Uganda, including the Host Government Agreement (HGA), Tariff and Pipeline Agreement (TTA) and Project Shareholder Equity Agreement (SHA), etc., marking an extremely important step towards the real implementation of the EACOP project. The EACOP project has established a special pipeline company for construction and operation. The shareholders are Total, CNOOC, the government of Uganda and the government of Tanzania, accounting for 72%, 8%, 15% and 5% of the shares respectively.

At the 13th Northern Corridor Heads of State Summit in April 2016, the route of the EACOP project was determined to take the Tanzania route, with a total length of about 1,444 kilometers, 80% of which is in Tanzania, and the total cost is about 3.5 billion US dollars. After the project is put into operation, Tanzania is expected to receive 3.24 billion dollars in revenue and 18,000 jobs in the next 25 years, of which about 10,000 will be in the construction phase.