About Company

The East African Crude Oil Pipeline (EACOP), also known as the Uganda–Tanzania Crude Oil Pipeline (UTCOP),[5][4] is a 1,443 km crude oil pipeline in planning since 2013, with a foundation stone nominally under construction since 2017[6] and intended to transport crude oil from Uganda's Tilenga and Kingfisher oil fields to the Port of Tanga, Tanzania on the Indian Ocean.[7] Uganda wants to develop its oilfields under the two projects Tilenga, operated by TotalEnergies, and Kingfisher by China National Offshore Oil Corporation (CNOOC). In 2021, EACOP was owned by TotalEnergies at 65 percent, Uganda's National Oil Company (UNOC) at 15 percent, Tanzania at 15 per cent and CNOOC at 5 percent. The price of the project has increased to 5 billion $. financing as of January 2024 remained uncertain, as 24 banks have distanced themselves from the project with only two banks namely Standard Bank, through its subsidiary Stanbic Uganda, and Sinosure still advising on the project.