The East African Crude Oil Pipeline (EACOP) has signed a host government agreement (HGA) with Tanzania, as plans for the Ugandan oil development near the finish line.

A statement from Total E&P said the October 26 deal was “yet another successful step in the process, following the implementation of the Ugandan HGA on September 11. The Lake Albert oilfields and export pipeline should drive a 60% increase in foreign direct investment in the two states during the construction phase.

Tanzanian President John Magufuli held talks with his Ugandan counterpart Yoweri Museveni in September. At this meeting, they both agreed to press ahead with HGAs.

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Source: EnergyVoice