Uganda is expected to make a final investment decision for its oil and gas refinery project in June with plans to begin production by 2025, Zawya reported, citing Minister for Energy and Mineral Development Ruth Nankabirwa.
Albertine Graben Refinery Consortium, which won the contract for the refinery, is currently performing environmental and social impact assessments.
The Uganda Refinery Holding Company Ltd, a subsidiary of state-owned Uganda National Oil Company Limited, will hold 40% of commercial interests on behalf of the government.
The government has also proposed that the East African Community countries take shares in the project alongside the oil companies, Total Energies, and CNOOC.
Although the project is expected to cost $4 billion, the Petroleum Authority of Uganda (PAU) said the final cost would be apparent following the final investment decision.
