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Africa

China’s CNOOC finally agrees to invest in Uganda’s oil | Source: The Observer

China National Offshore Oil Corporation Ltd (CNOOC) has finally closed the long-awaited Final Investment Decision (FID) for the development of Uganda’s oil and gas projects in the Albertine region. The decision by CNOOC to unlock billions of dollars of investment in Uganda’s oil and gas sector now gives a green light to the proposed construction of a $3.5 billion East African Crude Oil Pipeline (EACOP) and other infrastructure in the Albertine region.

Source: The Observer


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