Uganda Oil & Gas Q1 2020
:We now expect first crude oil production in Uganda in 2024, maintaining that oil production remains contingent on thesuccessful completion of the Hoima-Tanga pipeline, as well as progress on the planned Hoima refinery. 2024 is a further two-yeardelay on our previous forecast, a result of the ongoing tax dispute between Tullow and the government following Tullow's stake salein the production project. Tullow will now restart the farm-down process and with the suspension of the EACOP pipeline work weforecast further delays to first oil in Uganda. We also note further downside risks, from potential delays to EACOP pipeline, due totechnical, environmental and operational constraints adding up.
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