Uganda expects to start producing oil in 2021, a year later than initially planned, and its refinery should be up and running by 2023, its oil minister said on Thursday.

France’s Total is an investor in Uganda’s oilfields, with China’s CNOOC and Britain’s Tullow Oil. “Our initial target was 2020. That seems to have slipped and we are looking now at 2021,” Irene Muloni said at the Africa Oil Week conference in Cape Town. That date is in line with industry targets.

In April Uganda signed a deal with a consortium, including a subsidiary of General Electric, to build and operate a 60,000 barrel per day refinery that will cost $3 billion-$4 billion. Muloni said the refinery should be operational by 2023.

Source: Hellenic Shipping News