France’s TotalEnergies & China’s Cnooc invested $10 billion into the megaproject to drill for oil. They announced the beginning of the development phase for Uganda’s oil project to be complete by 2025. $3.5 billion will be used to construct an 897-mile heated pipeline linking oil fields in western Uganda to the Indian Ocean port of Tanga in Tanzania.
The project consists of building oil fields, processing factories, and heated pipelines, one of the longest in the world. The project will create job opportunities for nearly 160,000 people. In addition, Uganda’s government hopes that exports will lift the nation into upper-middle-income status. Uganda’s oil and gas project aims to boost the country’s economy with foreign direct investment and trade.
