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Uganda s new energy minister will make sure we beat timeframe to first oil
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Total awards $1 9b oil project deal to British, Chinese firms
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Daily Monitor
Saturday May 22 2021
Summary
The tripartite agreement is a composition of the Tariff and Transportation Agreement, host government agreement and the shareholders agreement.
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On April 11, Uganda witnessed the monumental signing of the East African Crude oil Pipeline (EACOP) deal between the governments of Uganda, Tanzania and French Oil giant, Total.
The tripartite agreement is a composition of the Tariff and Transportation Agreement, host government agreement and the shareholders agreement.
The signing of the pipeline deal alleys the fears of those that still think that oil production is a myth and going forward the Petroleum Authority of Uganda has launched the Resettlement Action Plan for the EACOP which gives a go ahead for land acquisition activities that had stalled due to the Covid-19 pandemic.
NationofChange
Ugandan farmers whose land will soon become a crude oil pipeline pathway lose years of livelihood
After years of uncertainty, communities are demanding proper compensation from major oil companies who will soon begin construction of a major pipeline through their land.
Image Credit: Thomson Reuters Foundation/Isaac Kasamani
Three years ago, Alfred Okumu Weki’s land was identified for acquisition by multinational oil companies and the Ugandan government to pave way for new oil infrastructure in the Albertine region of Western Uganda where major oil reserves were discovered over a decade ago. To this day, however, no pipeline has been built. This has left Weki and others in the community in a state of constant limbo, unable to plant crops and earn a livelihood from their land due to fear that at any moment construction could begin.
Oil pipeline-related splurge raises Uganda real estate industry spirits
Tuesday May 04 2021
Uganda President Yoweri Museveni and Tanzania President Samia Suluhu during her one day visit to Uganda. PHOTO | PPU | AFP
Summary
Whereas procurement budgets managed by oil exploration firms operating in Uganda declined between 2017 and 2020, a surge in spending captured during the first three months of this year points to strong recovery opportunities for real estate sector.
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Commercial activity surrounding the recent signing of key agreements related to the 1,445km East African Crude Oil Pipeline Project (EACOP) and a surge in oil explorers’ procurement budgets have increased hopes of recovery in the country’s real estate industry that has been hit hard by the coronavirus pandemic.
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