Ugandan refinery project underway
The Ugandan government awarded Russian-based development firm RT Global resources a contract to build and operate a $2.5-B crude oil refinery to process the estimated 6.5 Bbbl of crude in a reserve near the country’s border.
If the planned schedule is maintained, the land acquisition for the project should be completed by September 2016.
The project is part of an ongoing effort to develop hydrocarbon reserves near the country’s border with the Democratic Republic of the Congo.
The government set aside $56 MM for 2016 to develop the field, boost the skill level of operators and help establish the National Petroleum Authority and the National Oil Co. Pipeline development between the field andrefinery will be developed by private investors.
The overall goal of the project is to begin pumping and refining oil by 2020.
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