TPDC receives award for contribution in EACOP
What you need to know:
- Mr Bwana said TPDC had what it took to receive the award due to its technical contribution to the successful implementation of the project that will create about 10,000 jobs for Tanzanians.
Dar es Salaam. Tanzania has received an honorary award from Uganda in recognition of her immense contribution to the East African Crude Oil Pipeline (EACOP) project.
The award was handed to the Tanzania Petroleum Development Corporation (TPDC) by the Uganda Investment Authority (UIA).
On behalf of the UIA, the EACOP Green Economy Coordinator, Mr Bryan Bwana, presented the award to the TPDC Director General Dr James Mataragio.
Mr Bwana said TPDC had what it took to receive the award due to its technical contribution to the successful implementation of the project that will create about 10,000 jobs for Tanzanians.
“We commend TPDC for its contribution that has made the two countries arrive at the Final Investment Decision (FID),” he told a press conference.
The FID was announced in February this year at a ceremony in Kampala by the heads of France's TotalEnergies and the China National Offshore Oil Corporation (CNOOC) after sealing a landmark $10-billion deal to develop the project.
The historic event was witnessed by the Tanzanian Vice President, Dr Philip Mpango, Ugandan President Yoweri Museveni and other high profile government officials from the two countries.
Mr Bwana said TPDC's experience in the construction projects and in overseeing oil and gas infrastructure has been of paramount importance in facilitating smooth discussion.
“As you know, this project has undergone various stages and in every stage TPDC has been in a forefront in making sure the project materialises,” stressed Mr Bwana.
Receiving the award, Dr Mataragio thanked the Ugandan government for recognising the contribution of the government of Tanzania through TPDC.
He said as a shareholder, TPDC had no option than doing all in its power to achieve the FID.
"It is our great honour to receive this award today (yesterday),” Dr Mataragio said, dedicating it (award) to all Tanzanians.
The 1,443-kilometre pipeline will transport crude oil from Hoima, Uganda to Chongoleani in Tanga Tanzania where economists say the construction of the pipeline will lead to a substantial rise in Foreign Direct Investment (FDIs) in both countries.
Over $3.5 billion investment capital associated with the construction and operation of the pipeline will be directly injected into the economies of the two countries.
The EACOP will be constructed and operated through a pipeline company by shareholders, namely the Uganda National Oil company (UNOC), the TPDC, TotalEnergies, the China National Offshore Oil Corporation (CNOOC) and Bolloré Logistics.
