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Cnooc awarded Final Investment Decision Appreciation Award

Kingfisher project construction

Kingfisher project construction

The Uganda Investment Authority (UIA) has awarded Cnooc Uganda Limited the FID (Final Investment Decision) Appreciation Award for the Lake Albert development project. 

The company has been ramping up efforts to develop the project with the pre-drilling civil works at Kingfisher oilfield in full swing. On February 1, 2022, Cnooc and Total Energies announced the FID of the Lake Albert development project.

President Yoweri Museveni presided over the ceremony, where he said that the revenues accrued from the oil will be critical in strengthening the country's and the region's economic development.

The Lake Albert development project encompasses the Kingfisher project operated by Cnooc and the Tilenga project operated by Total Energies, both in a joint-venture partnership with Uganda National Oil Company.

On February 11, 2022, Cnooc launched the ground breaking ceremony of pre-drilling civil works, thus kicking off onsite construction after the FID announcement. A Ugandan company, Excel Construction Limited was awarded the contract of the pre-drilling civil works. 

Over 150 Ugandan companies have taken part in Cnooc’s enterprise development training program, which aims to raise the competencies of Ugandan companies and make them able to participate in the oil and gas sector opportunities. 

Cnooc has also adopted the best practices of the industry to protect the environment and reduce potential social impacts in its operation in Uganda. In 2019, over 10,000 Ugandans attended the Kingfisher ESIA (Environmental and Social Impact Assessment) public hearing and, after thorough discussions, they made the decision to pass the ESIA.

The Kingfisher project is located in Buhuka parish in Kikuube district. In 2015, Cnooc built the first escarpment road in Buhuka and on February 28, 65 drilling conductors for the Kingfisher project were delivered to the site through the road.

Peter Banura, the Kikube district LC5 chairman, recognized the tangible benefits Cnooc has brought to the community. He said, “The oil and gas industry is taking off. I have confidence in Cnooc in pulling off the project best to their abilities.” 

 

© 2016 Observer Media Ltd