The Albertine Graben Refinery Consortium (AGRC) comprised of YAATRA Ventures, Baker Hughes, a GE company (BHGE), LionWorks Group and Saipem have signed a project framework agreement for a 60,000 bpd oil and gas refinery in Uganda
According to the government of the East African nation, the project is estimated worth US$3bn.
The initiative is in line with the Uganda Government’s ambitious plans to open the country’s energy domain to the international oil players to discover more potential in the East African nation’s oil and gas sector, addressing Africa’s booming oil and gas exploration and production activities.
Under the partnership agreement in the oil refinery project, YAATRA Africa and LionWorks will provide infrastructure solutions. Saipem, a global leader in engineering, procurement, construction and installation, will act as a services provider to the project investors, and BHGE, the only global fullstream company, will provide a comprehensive portfolio of equipment, technical and financial services.
Located in Hoima district, the oil refinery is set to process crude oil from fields developed by Total, Tullow and China’s CNOOC and future upstream operators. In this project, the Ugandan government has included a refined-product pipeline to Kampala for transporting finished products from the facility to the other parts of the country and to the international marketplaces.
“The Ugandan Government’s commitment to fully realise its oil and gas sector and acceptance of the innovative solution provided by AGRC is driven by its strategic goals, leading to achieving middle-income status. The Project will deliver a broad, significant economic development impact for Uganda and the East Africa region,” said Rajakumari Jandhyala, president and CEO at YAATRA Ventures.
The Albertine Graben Refinery Consortium will have each member undertake a specific role during Pre-Final Investment Decision (Pre-FID) activities and engineering, procurement and construction (EPC) of the refinery.
