Bolloré jumps into Total’s EACOP oil pipeline as banks, insurers steer clear

By David Whitehouse
Posted on Wednesday, 11 May 2022 06:00

Vincent Bolloré (Vincent Fournier/JA)

Bolloré Logistics has won the contract to be the main logistics supplier for the East African Crude Oil Pipeline (EACOP), a project which many banks and insurers are refusing to support.

The company is “proud” to have won the contract, the company said in a statement on May 9. EACOP is planned to transport about 216,000 barrels of oil per day from Lake Albert in Uganda to Tanga port in Tanzania. France’s TotalEnergies and the state-owned China National Offshore Oil Corporation (CNOOC) are the main investors in the project, which will include the world’s longest electrically heated pipeline. Construction is due to begin later this year, with the first oil scheduled for 2025.