Three key agreements paving way for Uganda's oil final investment decision (FID) were recently concluded, first between the government and French oil major Total and between the governments of Uganda and Tanzania.
Pending is the Host Government Agreement with Tanzania and the associated commercial arrangements to put in place an overarching contractual and legislative framework for the development of Uganda's crude oil discoveries. It is projected that up to $ 20 billion will be spent on the requisite infrastructure in the first three years after FID before first oil flows.
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