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DMEA: Uganda to take Hoima FID in June

Uganda’s planned 60,000 barrel per day (bpd) refinery at Kabale in Hoima district is expected to begin production by 2025, pending a final investment decision (FID) to be made in June.

The project is expected to cost around $4bn, but a more precise figure will be provided during the decision-making process.

In February 2022, Minister of Energy and Mineral Development Ruth Nankabirwa held talks about the status of the refinery with the lead developer, Albertine Graben Refinery Consortium (AGRC). The group holds a 60% share in the project, with the remainder held by the Uganda National Oil Co. (UNOC) through its Uganda Refinery Holding Co. (URHC) subsidiary.

AGRC is comprised of US-based BakerHughes GE, Italy’s Saipem, and Mauritian-registered Yaatra Africa and Lionworks Group. On the topic, Nankabirwa said: “I am delighted work with AGRC which started with the signing of the Project Framework Agreement (PFA) for refinery project on April 10, 2018.”