Uganda's Mega-Oil Project to Cost $20 Billion, Bring in $96 Billion in Revenues, Analysts Say

JOHANNESBURG--September 23, 2014--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The projected cost for Uganda to become an oil-producing country continues to rise. Jimmy Mugerwa, country manager of Tullow Oil (OTC:TUWOY) (London, England), said the investment required to exploit Uganda's oil resources is about $20 billion. This is nearly the total of the country's gross domestic product (GDP). Within this article: Details of Tullow Oil's $20 million project to produce, refine and export oil in Uganda.