Uganda seeks investor to build $2.5B oil refinery

|By:, SA News Editor

The Ugandan government is inviting companies to tender for the construction of a $2.5B refinery in the oil-rich Lake Albertine Rift basin.

A lead investor will be named by April and will take an interest of as much as 60% in the facility, which is proposed to have capacity of 60K bbl/day, according to the country's energy ministry.

The tender comes two weeks after Uganda issued its first oil production license to China's Cnooc (CEO), which in the process of developing Uganda's Lake Albertine fields together with Tullow Oil (TUWLF.PK, TUWOY.PK) and Total (TOT).