In an interview, the CEO of Uganda National Oil Co, Proscovia Nabbanja, confirmed that Uganda’s Tilenga and Kingfisher petroleum projects, along with a pipeline for oil export to Tanzania, are progressing as scheduled and are expected to start production by 2025. She mentioned that three drilling kits have been brought into the country for Tilenga, with four wells drilled so far, while Kingfisher also remains on course with three wells drilled. The East African Crude Oil Pipeline (EACOP), spanning 1,445 kilometers, will transport oil from Tilenga and Kingfisher and is also slated for operation in 2025.
The ownership of EACOP includes the government of Uganda, TotalEnergies from France, CNOOC from China, and Tanzania Petroleum Development Corp (TPDC) from Tanzania. Uganda is in discussions with SINOSURE, a Chinese export credit agency, to secure funding for the $5 billion project. Approximately 40% of the funding will come from debt, while the rest will be from equity.
Nabbanja acknowledged that concerns about climate change have reduced the pool of financing for oil and gas projects but expressed confidence in securing the necessary funding. She refrained from commenting on the ongoing lawsuit by five activist groups against TotalEnergies, emphasizing that TotalEnergies has been a responsible operator. She added that environmental considerations were taken into account from the project’s inception and defended the project’s positive impact on local communities.