04/08/2017 Press release
President Magufuli and President Museveni lay foundation stone for the construction of the East African Crude Oil Pipeline (EACOP)
The President of the United Republic of Tanzania, H.E. Dr. John Pombe Joseph Magufuli and the President of the Republic of Uganda, H.E. Yoweri Kaguta Museveni have today laid the foundation stone for the East African Crude Oil Pipeline (EACOP) at Chongoleani in Tanga Region.
The laying of the foundation stone for the world’s longest electrically heated crude oil export pipeline is a landmark event in the history of both countries. It follows the signing of the Inter Governmental Agreement by both countries and signifies their commitment towards the fast tracked development of the 1,445 km crude oil pipeline that will transport Uganda’s oil from Kabaale, Hoima in Uganda to the Chongoleani Peninsula near Tanga Port in Tanzania.
The construction of the EACOP is expected to cost an estimated US $3.55 billion and will boost the Foreign Direct Investment of both countries by a significant 60%. It will open up the entire East African region to further opportunities for trade and socio-economic development.
The Upstream Joint Venture partners CNOOC Uganda Limited, Total E&P Uganda and Tullow Uganda recognise and appreciate the efforts by the government of the Republic of Uganda and the government of United Republic of Tanzania in enabling the timely achievement of the development and commercialisation of Uganda’s oil resources.
Following today’s milestone, the JV partners will embark on a journey of detailed planning and execution complimenting the already ongoing studies such as Environment and Social Impact Assessments and Front End Engineering Design for the EACOP project.