By:Zawya

A long-awaited Ugandan development is set to deliver its first oil which will not only boost the country but contribute to overall global energy security.

The Tilenga and Kingfisher petroleum projects, alongside a pipeline, are intended to deliver oil from Uganda's Lake Albert reserves to the port of Tanga in Tanzania.

The country is now on track to produce its first load by 2025.

A total of 437 wells are set to be drilled with the project split into two - TotalEnergie’s Tilenga side has so far drilled 63 out of its 426 wells and Chinese major CNOOC’s Kingfisher’ side has drilled nine out of their 11.

The number of wells completed so far has exceeded expectations and the number needed for the country to produce its first oil, says Uganda’s Minister for Energy and Mineral Development, Ruth Nankabirwa Ssentamu.

The Tilenga and Kingfisher projects is a $6billion (£4.7billion) project which will harmoniously work alongside the East African Crude Oil Pipeline (EACOP), worth $5 billion, and the Uganda Refinery project, $4 billion, to represent a combined investment of approximately $20 billion into Uganda's economy.

“Our integrated approach, which includes the upstream, midstream, and downstream sectors, positions Uganda to significantly contribute to the global oil supply, fostering economic growth and boosting national revenue,” says Uganda’s Energy Minister Nankabirwa during a press conference.

The minister also explained how the project is “not only pivotal for Uganda's economy” but will also have “significant implications for the global energy market … contributing to global energy security”.