KAMPALA, Sept. 12 (Xinhua) -- French oil giant Total said on Friday it had reached an agreement with the Ugandan government on the development of a crude oil pipeline.
Ugandan President Yoweri Museveni and Total chief executive Patrick Pouyanne reached an agreement on the conditions of entry of the state-owned Uganda National Oil Company in the project, as well as on the Host Government Agreement (HGA) which will govern the pipeline project in Uganda, Total said in a statement.
"We have today reached major milestones which pave the way to the final investment decision in the coming months. We now look forward to concluding a similar HGA with the government of Tanzania and to completing the tendering process for all major engineering, procurement and construction contracts," Pierre Jessua, managing director of Total E&P Uganda, said in the statement.
"The conditions are set for the ramp-up of project activities and in particular, we will resume the land acquisition activities in Uganda while respecting the highest human rights standards," the statement added.
The 1,445-km East African crude oil pipeline, costing 3.55 billion U.S. dollars, will run from Uganda's oil wells in the western part of the country to the Tanzanian seaport of Tanga. Enditem
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