TotalEnergies: Final Investment Decision Was Made on Africa's Lake Albert Project
01 Febbraio 2022 - 3:51PM
Dow Jones News
By Olivia Bugault
TotalEnergies SE said Tuesday that a final investment decision
was made for the Lake Albert Development Project in Uganda and
Tanzania.
The French oil-and-gas giant said that the total investment on
this project is of roughly $10 billion.
"The Lake Albert development encompasses the Tilenga and
Kingfisher upstream oil projects in Uganda and the construction of
the East African Crude Oil Pipeline in Uganda and Tanzania," it
said.
TotalEnergies is partnering with the Uganda National Oil Co.,
the Tanzania Petroleum Development Corp. and the China National
Offshore Oil Corp., also known as CNOOC, on the oil and pipeline
projects, it said.
The Tilenga project--operated by the company-- and Kingfisher
one--operated by CNOOC-- should start producing oil in 2025 and
"reach a cumulative plateau production of 230,000 barrels per day,"
it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
February 01, 2022 09:36 ET (14:36 GMT)
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