Japan’s Sumitomo Mitsui Banking Corporation Europe Ltd (SMBCE), Standard (Stanbic) Bank, and Industrial and Commercial Bank of China Limited (ICBC), the three financial advisors for France’s Total E&P, Uganda-Tanzania, and China’s Cnooc, are said to be carrying out “market sounds to gauge financing appetite” for the proposed East African Crude Oil Pipeline (EACOP). Officials familiar with the matter say the response is so far “positive” especially given that the technical Front-End Engineering Designs (FEED) for the 1,445km pipeline planned to run from Hoima to Tanzania’s southern Tanga Port are not yet in. The FEED study report, according to Total E&P, the lead joint venture partner on the project, is currently at compilation stage. The tender for FEED was awarded last December (slightly behind schedule) to Houston-based Gulf Interstate Engineering to examine the technical aspects to give a clear picture of the project, which is expected to pave way for […]