Uganda: The construction of the EACOP pipeline is slated to start in 1Q24. The deputy managing commissioner of the East African Crude Oil Pipeline (EACOP), John Bosco Habumugisha, has been quoted stating that the construction of the preparatory camps is ongoing, and the project will soon be handed over to contractors. (Bloomberg)
Recall that the pipeline will cut across 1,443km and will transport oil produced from Ugandaโs Lake Albert oilfields to the port of Tanga in Tanzania. Drilling at the lake was commissioned in January 2023 and oil first production is expected in 2025. Ugandan authorities have indicated in the past that there are an estimated 6.5 billion barrels of crude under the lake, of which about 1.4 billion are recoverable. The reserves are expected to last up to 30 years, with production peaking at 230,000 bpd. The project has drawn criticism from environment assessment groups that have argued that it has the potential to negatively impact several wetlands on the planned route of its construction.
