Kampala, Uganda – 27th – March, 2025: The Uganda Chamber of Energy and Minerals (UCEM) congratulates EACOP Ltd and its shareholders – TotalEnergies (62%), UNOC (15%), TPDC (15%), and CNOOC (8%) – alongside financing partners including Afreximbank, Standard Bank, Stanbic Uganda, KCB Uganda, and ICD, for successfully closing the first financing tranche for the East African Crude Oil Pipeline (EACOP) project.
This achievement marks significant progress towards Uganda’s oil and gas commercialization, complementing other key projects like the refinery. With over 50% completion, 8,000 jobs created, $500 million in local procurement, and 400,000 training hours delivered, EACOP demonstrates tangible benefits for Uganda and Tanzania.
UCEM has consistently advocated for the urgent development of Uganda’s oil and gas sector, emphasizing the importance of projects like EACOP in unlocking the sector’s potential.
EACOP (US$4.5bn) is a critical component of Uganda’s broader oil and gas development agenda, which also includes the construction of a refinery and other key projects.
This milestone underscores the strong regional and international confidence in Uganda’s oil and gas sector and marks a significant step toward realizing this transformative infrastructure.
As EACOP progresses, UCEM calls upon all relevant stakeholders to support the project to its logical conclusion so that it can deliver lasting value to the East African region.
For further inquiries, please contact:
media@ucem.ug