REG-TotalEnergies SE TotalEnergies: Uganda and Tanzania: Launch of the Lake Albert Resources Development Project

TotalEnergies SEAnnouncement

01/02/2022 13:45

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TotalEnergies: Uganda and Tanzania: Launch of the Lake Albert Resources
Development Project

 

During a ceremony held in Kampala, in the presence of Yoweri Museveni,
President of the Republic of Uganda, Philip Mpango, Vice-President of the
United Republic of Tanzania, Patrick Pouyanné, Chairman and CEO of
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), and representatives of the
China National Offshore Oil Corporation (CNOOC), the Uganda National Oil
Company (UNOC) and the Tanzania Petroleum Development Corporation (TPDC), the
Lake Albert Development Project partners announced the final investment
decision and the launch of this major project representing a total investment
of approximately $10 billion.

The Lake Albert development encompasses the Tilenga and Kingfisher upstream
oil projects in Uganda and the construction of the East African Crude Oil
Pipeline (EACOP) in Uganda and Tanzania. The Tilenga project, operated by
TotalEnergies, and the Kingfisher project, operated by CNOOC, are expected to
start producing in 2025 and to reach a cumulative plateau production of
230,000 barrels per day. The upstream partners are TotalEnergies (56.67%),
CNOOC (28.33%) and UNOC (15%). Production from the oil fields in Uganda will
be transported to the port of Tanga in Tanzania through the EACOP cross-border
pipeline, whose shareholders are TotalEnergies (62%), UNOC (15%), TPDC (15%)
and CNOOC (8%).

All partners are committed to implementing these projects in an exemplary
manner, taking into consideration the environmental and biodiversity stakes,
as well as the rights of the concerned communities, in accordance with the
stringent performance standards of the International Finance Corporation
(IFC). In this context, the land acquisition program is currently underway,
incorporating areas of improvement identified by independent third-party
reviews performed after the first phase of this program led in 2018-2019.

Furthermore, TotalEnergies is committed to implementing action plans that will
have a net positive impact on biodiversity as part of the implementation of
these projects. In close liaison with the authorities and stakeholders
concerned with nature conservation in Uganda and Tanzania, these action plans
will be implemented in collaboration with neighboring communities and under
the supervision of an independent institution.

" The development of Lake Albert resources is a major project for Uganda and
Tanzania, and our ambition is to make it an exemplary project in terms of
shared prosperity and sustainable development. We are fully aware of the
important social and environmental challenges it represents. We will pay
particular attention to use local skills, to develop them through training
programs, to boost the local industrial sector in order to maximize the
positive local return of this project," said Patrick Pouyanné, chairman and
CEO of TotalEnergies. "With today's signing of a framework agreement on
renewable energy, we are laying the foundation to implement our multi-energy
strategy in Uganda and contribute to people's access to energy.”

This oil development is in line with TotalEnergies' strategy of only approving
new projects if they are low-cost and low emissions. In particular, the design
of the facilities incorporates several measures to limit greenhouse gas
emissions well below 20 kg CO2eq/boe, including the extraction of Liquefied
Petroleum Gas for use in regional markets as a substitute for burning biomass,
and the solarization of the EACOP pipeline.

TotalEnergies and the Ugandan Ministry of Energy and Minerals also signed
today a Memorandum of Understanding (MoU) for the development of renewable
energy with the objectives of developing 1 GW of installed capacity, promoting
access to electricity and clean energy, supporting national climate change
objectives through the deployment of carbon footprint reduction projects.

***

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About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is ever more
affordable, cleaner, more reliable and accessible to as many people as
possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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