FID at last for $10bn Lake Albert project

TotalEnergies and CNOOC Ltd have taken the final investment decision (FID) on Uganda’s Lake Albert development, finally triggering the start of work on the 240,000 barrel per day project.

Ugandan President Yoweri Museveni, Tanzanian Vice President Philip Mpango and TotalEnergies head Patrick Pouyanné attended the ceremony this morning. The launch was held at the Kololo Independence Grounds, in Kampala.

“I’m proud to announce the FID for this project,” Pouyanné said at the ceremony. The companies have made a commitment to invest $10 billion in the Tilenga and Kingfisher fields, in addition to the 1,400 km export pipeline.

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Photo Credit: Energy Voice.