Total’s $5.1-billion Lake Albert development with CNOOC brings Uganda into the club of oil-producing nations while it positions the French major as the dominant player in African oil and gas.
While there are various drivers of local empowerment and ownership requirements in Sub-Saharan Africa, one key driver appears to be gaining ground: national interest empowerment. An analysis of local empowerment and ownership trends in 14 African countries, including several of the continent’s biggest economies, shows growing emphasis on regulating ownership in economic sectors and activities which historically have not been regulated.
Natural gas provides reliable efficient energy source
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Natural gas provides reliable efficient energy source
ENERGY security means access to reasonable supply of power at affordable prices which is essential for a country’s growth and development. Over the centuries, mankind has worked on finding ways to develop technology for more efficient and sustainablesources of energy.
Although renewable energy sources such as solar photo voltaic and battery energy storage technologies are making huge strides with reduced costs, many still feel a mix of generational solutions is a necessity for Africa. In this case, gas can be a more realistic solution than other higher carbon emitting technologies such as coal, diesel and heavy furnace oil (HFO).
Total has concluded final agreements for the Lake Albert Resources Development Project in Uganda and Tanzania. The Lake Albert development encompasses Tilenga and Kingfisher upstream oil projects in Uganda, which are expected to deliver a combined production of 230,000 barrels per day at plateau.
Paris, 12 April 2021 During a signing ceremony held yesterday in Entebbe, in the presence of Yoweri Museveni, President of the Republic of Uganda, Samia Suluhu Hassan, President of the United Republic of Tanzania, Patrick Pouyanné, Chairman and CEO of Total, as well as representatives of China National Offshore Oil Corporation (CNOOC), Uganda National Oil Company (UNOC) and Tanzania Petroleum Development Corporation (TPDC), the partners of the Lake Albert development project have concluded the final agreements required to launch this major project.