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According to the US Bloomberg News Agency in London on September 24, Uganda said that it is not expected to meet its first crude oil production target
in 2020 as international oil companies have delayed making final decisions on investment.
The Kampala-based Ugandan Energy Ministry said by email that joint venture partners France's Total, China National Offshore Oil Corporation and London-based Tulo Oil failed to make their final decision by the end of 2017, but the ministry did not provide further details
.
"The final investment decision originally planned by the end of last year has been postponed, which will affect Uganda's goal
of achieving its first oil production by the end of 2020," Uganda's Ministry of Energy said.
”
China National Offshore Oil Corporation had said in May that the first oil production could begin
in 2021, three years after it plans to make a final investment decision later this year.
The joint venture partners are now working together to develop crude oil discoveries in Uganda, which could hold up to 1.
7 billion barrels of oil reserves
.
The East African country plans to build a refinery with the capacity to process 60,000 barrels per day and a crude oil export pipeline
through neighboring Tanzania.
In April, Uganda awarded the refinery agreement to a group
led by General Electric of the United States.
According to the US Bloomberg News Agency in London on September 24, Uganda said that it is not expected to meet its first crude oil production target
in 2020 as international oil companies have delayed making final decisions on investment.
The Kampala-based Ugandan Energy Ministry said by email that joint venture partners France's Total, China National Offshore Oil Corporation and London-based Tulo Oil failed to make their final decision by the end of 2017, but the ministry did not provide further details
.
"The final investment decision originally planned by the end of last year has been postponed, which will affect Uganda's goal
of achieving its first oil production by the end of 2020," Uganda's Ministry of Energy said.
”
China National Offshore Oil Corporation had said in May that the first oil production could begin
in 2021, three years after it plans to make a final investment decision later this year.
The joint venture partners are now working together to develop crude oil discoveries in Uganda, which could hold up to 1.
7 billion barrels of oil reserves
.
The East African country plans to build a refinery with the capacity to process 60,000 barrels per day and a crude oil export pipeline
through neighboring Tanzania.
In April, Uganda awarded the refinery agreement to a group
led by General Electric of the United States.