Uganda bullish on oil deal with Total, CNOOC by March

The Energy PS said Uganda is fine tuning minor details ahead of the FID. PHOTO | FILE | NMG

The Uganda government says it is in “advanced stages” of closing the long-awaited Final Investment Decision (FID) with the international oil companies — France’s Total E&P and China’s Cnooc — in the coming weeks.

The decision, will unlock billions of dollars of investment in Uganda’s oil and gas sector and turbo-charge the country’s economy.