By Musasizi Isaac
Tanzanian President Samia Suluhu has described the signing of the East African Crude Oil Pipeline (EACOP) as a historic.
“It is not only a historic and an important occasion not only for the nations of Uganda and Tanzania but for the entire, East Africa,” she said after the signing and before jetting out of the country.
“This project will have an impact on the social-economic development of the East African community. It will provide long and short-term employment opportunities to various citizens”, Suluhu said.
She expresses her appreciation to Presidnt Museveni for the warm reception and hospitality extended to her and the visiting Tanzanian delegation.
President Museveni said that the Crude Oil pipeline project can be a core of other similar pipeline operations in the region.
The signing was attended by the French oil giant, Total SA’s chief executive, Patrick Pouyanne. The agreements signed include the Shareholders Agreement (SHA) between four companies in the EACOP holding company. including the Uganda National Oil Company (Unoc), the Tanzania Petroleum Development Corporation (TPDC), the Total E&P the Cnooc.
The other ageement is the Tariff and Transportation Agreement (TTA) between the pipeline company and the couriers of our crude oil. Uganda announced its first discovery of oil wells 14 years ago.
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