The East African Crude Oil Pipeline (EACOP), a 1,443-kilometer-long pipeline linking Uganda’s oilfields to international markets via Tanzania’s Port of Tanga, has successfully secured its first tranche of external financing. This marks a significant step in the project’s development.
Key financiers include Standard Bank Limited (South Africa), Stanbic Bank (Uganda), KCB Bank (Uganda), and the Islamic Corporation for the Development of the Private Sector. The African Export-Import Bank also participated in the initial financing phase.
As Uganda gears up to commence oil production from the Kingfisher and Tilenga oilfields in 2025, the $5 billion pipeline project remains a critical component. The infrastructure includes a 296-kilometer segment in Uganda and a 1,147-kilometer stretch in Tanzania, along with six pumping stations, two pressure reduction stations, and a marine export terminal.
EACOP is developed by TotalEnergies (62%) and the China National Offshore Oil Corporation (8%), in partnership with the Tanzania Petroleum Development Corporation (15%) and the Uganda National Oil Corporation (15%). It is set to be the world’s longest heated crude oil pipeline, adhering to high environmental and social standards.
Source: Energy Capital & Power
