Chinese, French oil firms seal $10 billion deal for Uganda megaproject


The so-called Final Investment Decision should pave the way for the export of millions of barrels of oil that was first discovered in 2006 in Uganda, one of the world's most biodiverse regions.

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Chinese and French oil giants finally sealed a $10-billion deal Tuesday to unlock Uganda's energy resources and build a vast regional oil pipeline, a mega-project that has incensed environmental groups, reports The Citizen.