Total,Chinese state-controlled CNOOC and London-listed independ-ent Tullow Oil aim to reduce capital costs at their oil field development in Uganda’s Lake Albert basin.The firms signed a preliminary agreement with the Ugandan government on 6 Febru-ary that could lead to production of over 220,000 b/d,with start-up planned for 2018.The partners had previously estimated the development costs at$8bn-12bn,with an additional $2.5bn-5bn for a crude pipeline to the Kenyan coast.
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