President Museveni Heads to Tanzania over the Oil Pipeline Project
President Yoweri Kaguta Museveni will travel to Tanzania today over East Africa Crude Oil Pipeline (EACOP).
On his tour ahead of signing of the residue host agreement, the President is expected to hold bilateral talks with his Tanzania counterpart, President Samia Suluhu Hassan in order to see the oil project in Motion.
This was revealed by the Senior Presidential Press Secretary, Linda Nabusayi.
“President Yoweri Kaguta Museveni is due in the Tanzania capital Dar es Salaam today ahead of the signing ceremony of the East Africa Crude Oil Pipeline (EACOP) Tripartite with counterpart President Samia Suluhu Hassan,” Nabusayi said.
The first oil drop from the Albertine Graben belt, is expected to start flowing in 2025 following the launch of project works of the $3.5b EACOP project on April 11 by Museveni and his Tanzanian counterpart, Suluhu, at State House, Entebbe.
Once completed, in the next four years, the EACOP will be the longest heated pipeline in the world, with a capacity to carry 230,000 barrels per day.
According to a joint communique signed by Museveni and Suluhu on April 11, the two East African leaders, said the launch of the pipeline project essentially means that key engineering, procurement and construction contracts that will trigger the project into motion.
Three agreements were signed in April —the Host agreement, shareholding agreement, which allows ECOP Company to invest and the Tariff agreement, which leaders said will pave way for the payment of fees for proper utilisation of the oil pipeline.