Congo and Uganda are in discussion about crude-oil exports, based on Uganda’s East African Crude Oil Pipeline (EACOP) pipeline project. The project is estimated to cost USD 3.5 billion to set up 1,445 kilometers of crude-oil pipeline, sourced by the Albertine Graben rift basin oil fields.
Mr. Didier Budimbu, Minister of the Democratic Republic of Congo (DRC) Ministry of Hydrocarbons, met for discussion with Mr. Ruth Nankabirwa Ssentamu, Energy Minister of Uganda, for East African Crude Oil Pipeline (EACOP) based petroleum exports.
EACOP is a 1,445 kilometers long pipeline, being built by Uganda at an investment of USD 3.5 billion. The project will source energy from the oil-rich basin of Albertine Graben, a shared territory between DRC and Uganda.
The pipeline will be used to export crude oil to the international market and is expected to become operational in 2025. The Uganda pipeline is expected to help the country set up various crude-oil-based trade relations with neighboring countries like South Sudan, Tanzania, etc.
DRC Ministry of Hydrocarbons announced, “Uganda acknowledged the crucial requirement of DRC to access the East African Crude Oil Pipeline (EACOP) for the transport of crude oil to be produced from the oil exploration blocks located in the Albertine Graben in the Democratic Republic of Congo.”
Also Read: IGL Signs MoU with Green Energy Group ACME for Green Hydrogen Business Opportunities
The presidents of respective countries shall sign an MoU sealing the final contract regarding the project based on the reports of respective technical teams.
