TotalEnergies Says Uganda Key to Its Global Plan

TotalEnergies CEO Paul Pouyanne. PHOTO/FILE

TotalEnergies SE has identified Uganda’s Tilenga project in the Albertine region as a key growth asset globally. The company has already initiated drilling activities in Bulisa and Nwoya districts as part of its efforts to develop high-return oil projects. In its annual report, TotalEnergies emphasizes the strategic focus on projects in Brazil, the Gulf of Mexico, Iraq, and Uganda, with additional exploration ventures in Suriname and Namibia.

Despite global pressure concerning projects like the East African Crude Oil Pipeline (EACOP) and oil drilling in Murchison Falls National Park, TotalEnergies CEO Patrick Jean Pouyanne reaffirms the commitment to these initiatives. Pouyanne highlights the Tilenga project in Uganda, along with developments in Iraq and Brazil, as flagship projects expected to begin production by the end of 2025.

While acknowledging substantial investments in renewable energy, Pouyanne emphasizes that oil and gas remain integral to the company’s DNA. TotalEnergies plans to invest approximately four billion dollars per year in oil and gas, with a rich portfolio of projects expected to yield a growing production of 2-3% over the next five years.

The company anticipates reaping about three billion dollars from oil and gas production between 2023 and 2028, with success in exploration contributing significantly to its achievements. Nicolas Terraz, TotalEnergies President for exploration, notes the progress of the Lake Albert Development Project and its expected production of 130KBD by the end of 2025.

In evaluating the 2000-2021 period, TotalEnergies emphasizes that while the energy transition has begun, it is not progressing rapidly enough. Pouyanne underscores the importance of low-carbon energy investments to meet the growing global demand, despite the challenges posed by the dominance of fossil fuels, which still constitute around 80% of the energy mix.

[Note: This text includes excerpts from a copyrighted article, and certain terms have been modified to provide a concise summary while maintaining the core information.] Advert Display WhatsApp Follow Button

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