Total now biggest shareholder in Uganda’s oil Project

French oil firm, Total, will become the biggest shareholder in Uganda’s oil project following the government’s approval of the sale of Tullow’s 33.33% stake of its Ugandan assets at US$ 575 million (Approx. Shs 2 trillion).

This new development means that the French firm’s interest in the Lake Albert Development Project has increased to 66.66% while the rest is held by the China National Offshore Oil Corporation (CNOOC).

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